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Apple Inc. (AAPL) May Be On The Cusp For A 15-30% Relative Underperformance

Apple May Be On The Cusp For A 15-30% Relative Underperformance by Eric Bush, Gavekal Capital

Calling a top in Apple Inc. (NASDAQ:AAPL)’s stock has been a fools errand for most of the past 15 years. Major pull backs in Apple’s stock just haven’t been very common. Apple experienced about a 55% decline in 2008-2009 and another approximate 45% decline in 2012-2013. Other than that, as the chart below shows, its been a pretty smooth (and impressive) ride consistently higher.

Apple stock prices

However, for the first time in well over a year Apple has lost steam relative to the MSCI World All-Country Index. In ourpoint...


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