Apple Inc. (NASDAQ:AAPL) shares approached their all-time high ahead of a July 30 earnings report, with the focus on its lean AI approach. Apple ended Friday at $333.02, rising 3.5%, and added another 0.2% in premarket trading. The company approaches Thursday’s earnings report just 0.6% below its all-time high, gaining about $167 billion in market capitalization during Friday’s surge. Shares were trading at $333.83 early Monday. This shift diverged from the main trend, as the Nasdaq slid 0.64% on Friday and was down 2.0% for the week amid renewed worries about AI infrastructure expenses. Alphabet Inc. (NASDAQ:GOOGL) shares dropped almost 7% on Thursday after executives lifted capital expenditure guidance for 2026 to a range of $195 billion to $205 billion. A filing-based estimate places Apple’s capital spending for the latest quarter at 1.8% of revenue, compared to Alphabet’s 37.5%. Apple’s forward earnings multiple is roughly 52% higher than Alphabet’s. Analysts’ initial consensus projects revenue of $108.97 billion and earnings of $1.89 per share.