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Apple stock is becoming investors' go-to hedge as the AI trade wobbles

Apple's 30-day correlation to the Nasdaq-100 hit its most inverse level since 2005, according to a CNBC analysis

David Paul Morris / Bloomberg via Getty Images

Apple $AAPL stock rose 2.6% on Tuesday as the broader technology sector sold off, extending a stretch of outperformance that has positioned the iPhone maker as a de facto hedge against turbulence in the AI trade.

According to a CNBC analysis using ThinkOrSwim data, the 30-day correlation between Apple and the Nasdaq $NDAQ-100 bottomed out at -0.86 last Thursday and was sitting at -0.82 as of Wednesday, a degree of inverse movement between the two that has not been recorded since 2005. Apple commands a........

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