Apple Doesn’t Fall Far From Bear-Market Tree



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A San Francisco Apple store

A San Francisco Apple store


Photo:

josh edelson/Agence France-Presse/Getty Images

Perhaps financial news networks should have advised listeners to sit down before relaying the news that (gasp!)

Apple


AAPL -2.82%

Inc. has entered a bear market.

Defined as a drop of 20% or more from a prior peak, bear markets for the entire U.S. stock market are rare—just three in the past 30 years.

But there is almost always a bear market somewhere or in something. At the recent October low, for example, over 40% of stocks in the S&P 500 were in their own bear market. Those included

Ford Motor
Co.

,

Harley-Davidson
Inc.

and

Caterpillar

Inc.—blue chips just as blue as Apple, though with less spectacular returns in recent years. It also includes, as of Wednesday, half of the stock markets in the G-20 when measured in dollars.

As that other apple taught us, what goes up must come down.

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