Stock Market Needs Apple, Big Tech to Keep Rising. That Might Be Difficult. – Barron’s

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If you’re looking for a reason why the stock market has bottomed, look no further than Big Tech. And if you’re looking for a reason why it might start sliding again, look no further than…Big Tech.

During the S&P 500’s 5.2% drop from its Sept. 2 high to its trough on Oct. 4, Apple (ticker: AAPL), Microsoft (MSFT), Facebook (FB), (AMZN), and Alphabet (GOOGL) fell an average of 8.6%. That made it almost impossible for the S&P 500 to climb, because those stocks account for about a fifth of the benchmark index. They’ve…