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Apple shares are doing something they haven’t done in 20 years. Here’s what’s happening

Apple shares are doing something they haven’t done in 20 years. Here’s what’s happening

Apple store in Barcelona, Spain on Aug. 10, 2026.

Beata Zawrzel | Nurphoto | Getty Images

Amid questions about the durability of the artificial intelligence complex and fears of a global rate sell-off, Apple is suddenly investors’ safety trade of choice.

Shares rose 2.6% Tuesday amid a broader tech rout, continuing its outperformance of the broader market.

In fact, Apple stock hasn’t been this inversely correlated to its tech peers since 2005, according to a CNBC analysis using ThinkOrSwim data. The 30-day correlation between the second-largest company in the world and the Nasdaq-100 Index of which it commands a 7.5% weighting reached a low of negative 0.86 on Thursday and is currently at -0.82. In the past month, shares of the iPhone…

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