Apple closed Monday with its worst five-day losing streak in more than three years, falling 8.8 percent over that period. The stock also ended down 9.9 percent from its record intraday high of $644 on April 10.
Although the stock has recovered some of its losses Tuesday, where can investors turn if they want to protect themselves from a continued Apple downturn?
Equal-weight exchange-traded funds give the same weight to each holding in the index, rather than assigning weightings based on other fundamentals such as market cap , stock price and revenue.
Apple’s surge over the past months has been a blessing for indexes such as the Nasdaq 100 and the S&P 500 Tech sector — the tech giant has had a large impact on those indexes due to its strong price performance and disproportionate weighting.