Equity markets are trying to follow through on yesterday’s intraday rebound. Crude oil, gold, and silver are all nicely higher, while Treasuries and the dollar are flattish.
Apple Inc. (AAPL) once took flack for not investing as heavily in AI tech as other Magnificent Seven names. Now, that restraint is helping the stock outperform its peers! While the Nasdaq 100 Index has struggled overall, AAPL’s correlation to it just dropped to the lowest since 2006. Indeed, Apple stock is UP 1.7% so far in February while the index is DOWN 3.3%. The company will be investing more heavily in developing AI-powered wearable devices like smart glasses and enhanced AirPods though.
AAPL Vs. QQQ (MTD % Change)
Data by YCharts
Speaking of Apple, it’s one stock that Berkshire Hathaway Inc. (BRK.B) pared back holdings of in the fourth quarter of 2025 – the last one where Warren Buffett was still CEO. Berkshire also trimmed holdings of Bank of America Corp. (BAC), deeply cut its position in Amazon.com Inc. (AMZN), and started a new position in the New York Times Co. (NYT). Greg Abel took over as Berkshire CEO at the start of 2026.
Palantir Technologies Inc. (PLTR) is decamping from the mountains to the beach! The popular AI company said it would relocate its corporate headquarters to Miami from Denver, six years after moving there from Palo Alto. Companies in the tech and finance industries have flocked to Florida since the pandemic for tax, regulatory, political, and other reasons. Palantir stock is up 11.6% in the past 12 months.
Finally, US markets are picking up where they left 2025 off so far this year, vastly underperforming foreign markets. The State Street SPDR S&P 500 ETF (SPY) is flat year-to-date, while the iShares MSCI ACWI ex US ETF (ACWX) is up 8.8%. In terms of relative performance, this is the worst start for US markets versus global ones in any year since 1995. A falling US dollar, the Big Tech slump, political uncertainty, and elevated valuations are making US stocks less attractive on the world stage.
