Apple Inc (AAPL US)

Apple shares illustrate perfectly how growth stocks can become unnerved by rising bond yields but interestingly at this stage even though the moves in money markets have been dramatic stocks have basically ignored the shenanigans – as we often say don’t fight the tape, while growth stocks shrug off the likelihood of higher interest rates MM is relaxed but we do believe the headwind will make it much harder for stocks to replicate recent performance over the coming years.