• The company reportedly confirmed that it was making some changes in its sales team that affect a small number of roles.
• Apple featured in Wedbush analyst Daniel Ives' list of top 10 stocks to own into the year-end, which the tech bull released on Tuesday.
• Apple's stock is up 2.5% in November, versus a 12% slide for AI chip giant Nvidia and a nearly 2% drop for Meta.

Apple, Inc. (AAPL) shares struck fresh intraday and closing highs on Tuesday, even as skepticism about the sustainability of the artificial intelligence (AI)-fueled tech rally persists.

Some of the Tim Cook-led company's more illustrious tech peers, such as Nvidia and Meta, also considered the faces of the AI boom this year, have seen sharp pullbacks. Meanwhile, Apple's measured approach to AI has shielded it from the selloff.

Apple Rides On AI Lag

Apple's stock is up 2.5% in November, versus a 12% slide for AI chip giant Nvidia and a nearly 2% drop for Meta. The tech giant's shares ended Tuesday's session up 0.38% to $276.97, with the gains supported by slightly higher than the average volume.

The Tim Cook-led company has its own foundation models and began rolling out rudimentary AI features it dubs“Apple Intelligence” late last year. Analysts believe a full-fledged AI integration would come when the company launches its long-delayed AI-powered Siri personal assistant, likely next year. 

Apple has a partnership with OpenAI to integrate the latter's large language models (LLMs) into its operating system, and it has also partnered with Alibaba for launching AI features in China.  According to Bloomberg's Mark Gurman, Apple is close to announcing a $1 billion per year deal to use Alphabet's Gemini for Siri.

Responding to an analyst's question on the September earnings call, Cook said the company is open to pursuing M & A for personalized AI, if the strategy advances its roadmap.

Apple's unusual Ax-wielding

Cupertino has also shown intent to keep its financial house in order.  In an unusual move, the company has trimmed dozens of sales jobs, Bloomberg reported, citing people familiar with the matter. 

The impacted positions included account managers serving major businesses, schools, and government agencies, as well as the staff who operate Apple's briefing centers for institutional meetings and product demonstrations for prospective major customers. A company spokesperson reportedly told Bloomberg,“To connect with even more customers, we are making some changes in our sales team that affect a small number of roles.”

Apple's Best Period 

Given that Apple sells a bulk of its hardware products during the December quarter, thanks to the holiday sales lift, the stock typically peaks during December. 

Source: Koyfin.

On Stocktwits, retail sentiment toward Apple's stock remained 'bearish' as of early Wednesday, and the message volume was also at 'low' levels.

A bearish watcher said they expect slow bleeding in the stock for the rest of the week, following a drop to at least its 50-day exponential moving average (EMA), at $250, by next week.

Another watcher premised their negativity on general pessimism about the economy, which may not bode well for this consumer-facing company's stock.

Apple, however, featured on Wedbush analyst Daniel Ives' list of the top 10 stocks to own into year-end, which the tech bull released on Tuesday. He attributed his optimism to the company's ability to benefit from the consumer AI revolution.

Macroeconomic fundamentals and market seasonality could also favor further upside for Apple's stock.

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