Apple stock jumps into record territory while the Dow drops

Apple stock soared Tuesday, as the price of Apple shares rallied 2.6% toward a record close in afternoon trading, to be the only one of 30 Dow Jones Industrial Average components to be gaining ground.

Is Apple stock primed for a big move?

Tomi Kilgore for Yahoo Finance:

Meanwhile, the Dow tumbled 635 points, or 1.8%, and was now 5.3% below its Nov. 8 record close of 36,432.22.

Apple’s stock has run up 9.1% in November, the biggest monthly gain since it rallied 9.9% in June, and compared with the Dow’s monthly decline of 3.7%. Apple’s stock is the best Dow performer this month, and one of just five Dow stocks that have gained ground in November, with Home Depot Inc.’s stock second best with an 8.5% monthly gain.

MacDailyNews Take: Meanwhile, on the death star, Microsoft CEO Satya Nadella dumped roughly half of his shares in the perpetual Apple follower, some 838,584 MSFT shares for more than $285 million on Nov. 22, 2021, and Nov. 23, 2021.

Perhaps, he’s using the proceeds to buy some Apple stock for his eventual retirement.

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