Taking a Bite: Buying Rotten Apple at Peak Pessimism

Rotten Apple

The chart below shows the rolling 90‑day performance of AAPL versus the NDX. Apple has underperformed the NDX by ~20 points over the past three months — one of its weakest 90‑day stretches of relative performance in the last 20 years. AAPL’s underperformance is the setup, not the story. With sentiment washed out, we are in for a bounce trade.