Apple (AAPL) and Nvidia (NVDA) — the Club’s two “own it, don’t trade it” stocks — have seen their fortunes sour somewhat in recent weeks, sliding to become among our five worst-performing holdings in August. Plenty of investors may be bailing on these two stellar performers. We are not. “I think Apple and Nvidia are the two you have to watch,” Jim said Thursday morning. “They have to stop [declining].” .SPX AAPL,NVDA 1M mountain The S & P 500’s performance over the past month compared with Apple and Nvidia. Despite initially trading modestly higher Thursday morning, Apple and Nvidia shares steadily lost ground into the afternoon in lockstep with the market. They popped a bit with the S & P 500 ‘s brief move positive just before 2 p.m. ET, before leveling off around the flat line. For the month of August, Apple and Nvidia have both lost about 9%, giving back some of their spectacular year-to-date gains. Both hit record highs in mid-July. The recent moves in Apple and Nvidia have coincided with a roughly 2% drop in the S & P 500 so far in August, after finishing the July 31 session at 4,588.96 — its peak for the year. At the index level, it’s not necessarily a shock to see some weakness. Overbought conditions in the market for much of late July suggested investors stay vigilant and prepare for a pullback. There are no guarantees that Apple and Nvidia — two of the largest stocks in the S & P 500 and large contributors to the index’s 17% gain this year — will shake their recent malaise anytime soon. When it does happen, though, we’ll be around to see it. “Apple’s gotten stuck,” Jim said, falling in six of the seven August trading days, as of Wednesday’s close. Apple’s June quarter, released a week ago, hasn’t helped matters, with the once-$3 trillion company now valued below that level . AAPL YTD mountain Apple YTD performance In our minds, the iPhone maker’s results were impressive – led by a record $21.2 billion in high-margin Services revenue….
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