One chart that should make Apple bulls worry and think about trimming

[Pelican Press 0]

This is the hidden content, please

• Sign In
• or
• Sign Up

One chart that should make Apple bulls worry and think about trimming

The almighty Apple, despite making new 52-week highs and all-time highs as recently as two weeks ago, continues to struggle versus its peer group. In fact, Apple’s relative performance to the tech sector peaked more than two years ago — in Q3 2022 — and has not improved in any meaningful way. The exact date of Apple’s relative performance peak was Sept. 27 2022. Since then, Apple (AAPL) is +49.9% while the SPDR Technology Select Sector ETF (XLK) is +92.7%. Said differently, $1,000,000 invested in Apple at the end of Q3 2022 is now worth $1,049,900, while $1,000,000 invested in the S & P 500 Technology Sector ETF (XLK) is now worth $1,092,700. The relative performance chart below tells the tale. We would continue to reduce exposure to Apple, for those who are long. -Carter Braxton Worth For actionable recommendations via email and live nightly videos become a member at worthcharting.com DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.

This is the hidden content, please

• Sign In
• or
• Sign Up

#chart #Apple #bulls #worry #trimming

This is the hidden content, please

• Sign In
• or
• Sign Up

This is the hidden content, please

• Sign In
• or
• Sign Up