** Shares of Apple AAPL.O rise 0.5% to $241.10 in late afternoon trade, bucking the wider AI selloff after Nvidia results
** The iPhone maker, which recently launched a budget iPhone 16e, has also been grappling with investor worries over demand due to a slow rollout of its AI-powered Apple Intelligence features
** "It's a little bit less levered to NVIDIA results than some of the other hyperscalers like Microsoft and Meta and Amazon that are spending hundreds of billions of dollars on CapEx" - Ross Mayfield, investment strategist at Baird
** Nvidia shares drop 4% as its upbeat quarterly forecast failed to quell worries about Big Tech's AI spend
** Other Magnificent Seven stocks: Amazon.com AMZN.O, Meta Platforms META.O, Alphabet GOOGL.O, Microsoft MSFT.O and Tesla TSLA.O about flat to down 1.3%
** Apple shares have outperformed other Magnificent Seven stocks since the DeepSeek selloff which raised questions about the need for billions of dollars to build AI infrastructure
Apple outperforms Magnificent 7 stocks since DeepSeek pullback https://tmsnrt.rs/41aHCsU
(Reporting by Medha Singh and Johann Cherian)
((medha.singh@thomsonreuters.com))
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