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Apple Bounce Can’t Shake Off Chilling Signal for Stock Market

  • The stock’s 6.5% drop this week was its worst since February
  • Apple has the biggest influence of any stock in the S&P 500
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Apple Investors Need to Think Long Term: Ives

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.