APPLE GUT PUNCH BUT STOCK BUYING ON HOPES OF A REPUBLICAN WIN
By Nigam Arora & Dr. Natasha Arora
To gain an edge, this is what you need to know today.
Apple Gut Punch
Please click here for a chart of S&P 500 ETF (SPY) which represents the benchmark stock market index S&P 500 (SPX).
Note the following:
- The chart compares SPY with Dow Jones Industrial Average ETF (DIA), Nasdaq 100 ETF (QQQ), Amazon (AMZN) stock, and Apple (AAPL) stock. For most of the year, as tech stocks cratered, Apple held up propping up the market since Apple carries a heavy weight in the indexes.
- As of Friday, Apple stock was worth more than Amazon, Alphabet (GOOG, GOOGL), and Meta (META) combined.
November 7, 2022