Why Apple No Longer Trades Like a Tech Firm

Nearly 20 years after the debut of its famous “Think Different” ad campaign, Apple continues to live up to the slogan. Increasingly, investors are noticing. The Cupertino, California-based company’s 40-day correlation to the Nasdaq 100 fell to just 0.21 last week (a correlation of 1 equates to perfect alignment), according to recent Bloomberg data, marking the starkest difference between the iPhone-maker and the tech-heavy index since 2006. It’s a trend that started early last year and looks likely to con ...