What Happens When Apple Stops Falling?

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Between December '23 and late April, #AAPL fell 18%.

You'd THINK that would weigh on the indices.

After all, APPL is the world's second largest publicly traded company. It's worth $2.8T.

It also makes up 8% of #QQQ, and 6.1% of #SPY. It's also 21% of Tech Sector Fund #XLK, the most important U.S. sector.

But it didn't...

#QQQ has rallied 29% since October. #SPY is up 27% over the same period.

In other words, stocks crushed it despite APPL acting as a major headwind.

So... what happens when Apple stops falling?

We may soon find out. You can see above that APPL just broke a multi-month downtrend. It's also held major support during its latest pullback.

In short, the stage could be set for higher APPL prices.

That's definitely not bearish for stocks.

Related: Applying Buffett's Logic: Identifying the Next Apple