2 Nov 2026

Apple up 4.4%. Nasdaq down 5%. October’s divergence is striking.

Apple’s correlation with the Nasdaq has reportedly turned negative—a sharp contrast with six years ago, when it was close to 100%. One of the index’s biggest names is moving in the opposite direction. With Apple’s earnings due today, that raises an interesting question: Are investors starting to see Apple as an alternative to the AI spending race? One month doesn’t establish a lasting trend. But the divergence puts Apple firmly in the spotlight. Source: Nic @puckrin on X

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