Apple Inc. (AAPL) is one of the most widely held stocks in the world. It sports a market capitalization of $2.6 trillion. It racked up an eye-popping $33.9 billion in profit on $119.6 billion in revenue in the fiscal first quarter.

And it can’t get out of its own way!

Look at the MoneyShow Chart of the Week below and what do you see? A stock that suffered an initial sharp downside break last summer...tried to recapture its old high in the fall...but ultimately failed and started rolling over again. Now, thanks to news of a major US antitrust suit, it’s selling off again.

Data by YCharts

RSI is making a series of lower highs. Volume is picking up on selloffs. MACD is confirming technical weakness. There’s not much to like here...even as many of you are likely reading this on your Apple iPhone, iPad, or MacBook.

SO FAR, this hasn’t been as much of a problem for the S&P 500 as you might expect, despite the fact AAPL has the second-highest index weighting at 5.9%. That’s partly because the largest company, Microsoft Corp. (MSFT), is up around 14% on the year, offsetting AAPL’s 10% drop.

We’ve also seen other sectors like energy and financials pick up the slack in technology. But if the market is going to continue to advance, we need to see old leaders at least hold their own while new leaders pick up the baton and run with it!