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Apple (AAPL) stock has had a remarkable run over the last few years, and was the best-performing FAANG stock in 2019 and 2020. It reclaimed the title in 2022, as it fell less than its tech peers amid the broader market meltdown. However, Apple’s returns trailed those of its FAANG peers in 2023, and it has the dubious distinction of being in the red this year, even as other FAANGs have either hit record highs or are nearing one.
In fact, Apple stock is trading at its lowest level since October, and is not far from its 52-week lows. Why is Apple stock going down, and should you buy the dip? We’ll discuss in this article.
