Apple Stock Shows Strongest Inverse Correlation to Tech Peers Since 2005, Rises 2.6% Amid Broader Tech Rout
Apple shares have become investors' safety trade of choice, with their 30-day correlation to the Nasdaq-100 Index reaching a low of negative 0.86 on Thursday and currently at -0.82. In the past month, Apple shares are up 7% versus a 1% gain for the Nasdaq-100, and options traders show strong bullish positioning.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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