The week is ending on a higher note for Big Tech on hopes a relentless selloff may be nearing exhaustion. But Friday’s rally can’t completely wipe out a sobering signal from Apple Inc. shares.
After acting as a ballast for the broader market for most of the year, the stock broke down this week, with losses through Thursday exceeding 9%. Even after Friday’s rebound, Apple is now underperforming the S&P 500 for the year. And this, analysts say, is worrisome.