“It’s just a cliche, but still: one bad apple really can spoil the whole bunch,” Paul Vigna reports for The Associated Press.
“With the Dow Jones Industrial Average hitting a new record, there are only two broad U.S. indexes that haven’t hit a new record: the S&P 500, and the Nasdaq Composite,” Vigna reports. “The latter still remains roughly 36% off its 2000 dot-com highs, but the former is less than 2% off its record (1565 from October 2007).”
Vigna reports, “Since the Cupertino juggernaut hit its record high of $702 on Sept. 19, it’s been nothing but downhill for the stock, off about 39% since then. For the S&P 500, since Sept. 19 through today’s close, the index was up 5.4%. Putting it at 1540. But, according to S&P Dow Jones Indices, if Apple was excluded from the index, it would be up 7.7% in that time frame – putting it at roughly 1573. That would be a new record.”
Read more in the full article here.
MacDailyNews Take: Don’t blame Apple, blame Doug Kass an the rest of his ilk.