The Week Ahead: Corrosion Under the Surface

The first five trading days of December delivered mixed results for the major stock indices. The Dow Jones Industrial Average was a clear winner, having risen 1% in the past five trading days, while the S&P 500 was essentially unchanged. The Nasdaq Composite lost 1.1%. As with the prior week, one of the key drags on the Nasdaq has been Apple (AAPL), whose shares dropped nearly 9% last week. With that, the stock's retreat from its 52-week high is now just over 24%.

Apple (AAPL) -- Daily Source: StockCharts.com View Chart » View in New Window »

Even though Apple's iPhone 5 has gone on sale in more than 50 additional countries over the last few weeks, and will soon be launched in China, shares of the company have fallen victim to uncertainty regarding the fiscal cliff -- and, with it, the fate of the capital-gains tax. That has prompted investors to exit the stock, despite what I view as favorable growth prospects for the company....598 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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