Apple (AAPL) Correlation With Nasdaq 100 Hits 20-Year Low Amid AI Volatility

Apple Inc. (AAPL) has decoupled from the broader tech sector, with its 40-day correlation to the Nasdaq 100 falling to 0.21 last week, the lowest level since 2006. As AI-driven volatility impacts peers, Apple’s limited exposure to the generative AI arms race has positioned it as a defensive alternative. On Feb. 17, Apple gained 3.2% while the Nasdaq 100 slipped 0.1%. For February, the stock is up 1.7%, outperforming the index’s 3.2% decline. Despite trading at a high forward P/E of roughly 30 times, analysts cite hardware stability against AI disruption risks. Revenue growth is forecast to slow to 6.7% by fiscal 2027.