Big Tech Names Lagging Far Behind
The NASDAQ
But, wait, I’m not done: even the Russell 2000 index of small capitalization equities established unexpected new highs as December kicked off.
That’s why it’s weird — or at least, unusual — to see how former monsters like Apple
Here’s the evidence:
The NASDAQ:

NASDAQ daily price chart, 12 9 20.
Pretty obvious if you look at it. The early September peak is followed by a couple of months of consolidation and then, a higher all time high during the first week of December.
The Standard & Poor’s 500:

Standard & Poor’s 500 daily price chart, 12 9 20.
It’s even stronger in terms of “higher high” than the NASDAQ. The early December all time high peaks well above the early September price. That’s a nice bit of buying volume on the second week of November, too.
The Dow Jones Industrial Average:

Dow Jones Industrials daily price chart, 12 9 20.
Same basic look here: the early September peak is eventually followed in early December by an even higher all time high.
Russell 2000 Small Caps.

Russell 2000 daily price chart, 12 9 20.
When you read analysts talking about the move from “growth” to “value,” this is what they’re referring to — whether it’s an accurate take or not. The small cap index just took off and did not look back from the beginning of November to the present.
Now, take a look at the former favorites that didn’t get there:
Apple:

Apple daily price chart, 12 9 20.
Every time it seems to bottom and begin to rally, the stock runs into selling before it can even approach the late August/early September all time high. The introduction of new…