Apple Inc. (NASDAQ: AAPL) might have just delivered a record quarter, but its shares have dropped about 8% in the days since. On the surface, that looks like a classic case of a stock priced for perfection stumbling over cautious guidance. But dig a bit deeper, and a more fundamental concern emerges, one that a rare analyst downgrade just brought into sharp focus.
The concern isn't the last quarter. Rather, it's a growing sense that in a market obsessed with artificial intelligence, Apple is the one technology giant without a clear, visible AI growth engine.
