Apple Could Buy an AI Chip Company. Its Hot Stock Just Set a Fresh Record High

Apple shares climbed to a fresh record Wednesday in the wake of reports the iPhone maker is considering buying an AI chip company. The stock has been on a roll lately amid hopes new releases and AI updates later this year could drive more gains. The possibility that Apple could add an AI chip company to its portfolio sent its stock to fresh highs. Shares of Apple (AAPL) climbed 4% Wednesday, closing above $327 to top a record set earlier this week. The Information reported Wednesday that the iPhone maker is on the hunt to buy a chip company that can help it realize its AI ambitions. The stock was one of the top performers in the S&P 500 as stocks rose broadly. Apple has approached several chip startups about a buyout after facing challenges with its in-house AI servers, according to the report. Apple faces intense pressure to prove it’s making progress with AI, and a new chip deal could help boost confidence in its trajectory. The iPhone maker’s stock has been on a roll lately. It has hit a series of record highs in recent weeks amid growing optimism about upcoming releases and ahead of the September rise of CEO John Ternus into the seat long held by Tim Cook. In a note to clients yesterday, Morgan Stanley analysts pointed to hopes that recent price hikes and loyalty to Apple’s brand could help defend the company’s margins from the impact of rising memory prices amid an industrywide shortage of parts. Apple shares have added about a fifth of their value since the year began, making it the best-performing member of the Magnificent 7 in 2026 so far.