Apple (AAPL.US) doesn't burn cash; is the "safe haven" really safe after the AI sell-off?

According to Jin Zhi Finance APP, Apple (AAPL.US) delivered a stellar FY2026 Q4 report — with revenue, EPS, and iPhone sales all setting record highs and exceeding expectations, yet its stock price turned lower after hours. What the market is truly pricing in isn’t this “blowout” earnings report, but rather the three cracks behind the numbers: Greater China and services revenue generating negative surprises for two consecutive quarters, weakened gross margin guidance under the pressure of storage costs, and an as-yet-unrealized December quarter. At a historic high 36x P/E, this defensive asset—pushed to a $5 trillion market cap by risk-averse funds precisely because it is “not participating in the AI spending race”—is now being eroded in reverse from the cost side by the same wave of AI. Its safety is, for the first time, in need of re-verification.