Who said that the market wouldn't be able to rally without Apple (AAPL)? Since shares of AAPL had their all-time closing high on 9/19/12, the stock is down close to 31%. At the same time, the S&P 500 has risen by nearly 1%, while the average stock in the index is up 4%. Over that same time period, there are 28 stocks (5.6% of the index) in the index that are up more than 20%.
The table below lists the 28 stocks in the S&P 500 that are up more than 20% since 9/19. Topping the list with a gain of 78.8% are shares of Netflix (NFLX), followed by Tenet Healthcare (THC), Genworth Financial (GNW), Ford (F), and First Solar (FSLR). Even Dell is up over 25% since AAPL's peak. If someone asked you three months ago whether you would rather own AAPL or DELL for the next three months, how many of you would have said DELL? Which would you rather own now?