00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Apple shares are increasingly acting as a safety trade, as investors question the
00:07durability of the artificial intelligence rally and worry about a global rate sell-off,
00:12according to CNBC. The stock rose 2.6% Tuesday during a broader technology decline and has
00:19gained 7% over the past month, compared with a 1% gain for the Nasdaq 100. Apple's 30-day
00:25correlation with the index recently fell to negative 0.86, its lowest level since 2005.
00:32Apple is now up 20% this year, compared with a 15% gain for the Nasdaq 100. Options activity
00:39also showed bullish positioning Tuesday, with nearly 1.5 million calls traded,
00:44compared with fewer than 700,000 puts. Apple options volume was about twice its 30-day average.
00:50For all things money, visit Benzinga.com.
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