This Daily chart of the GOOG:AAPL ratio shows the outperformance of GOOG to AAPL from mid-2012. Price will be nearing a resistance level at some point in the not-too-distant future -- we'll see whether, as and if that occurs, the buying picks up in AAPL and gains any momentum. If not, then we'll continue to see the spread widen between these two technology giants (in favour of GOOG).
You can see from the next Daily chart of the AAPL:NDX ratio how AAPL is underperforming the NDX. The Momentum indicator is approaching the zero level, once more -- a drop and hold below zero will signal accelerating downside ratio momentum (and weakness) in AAPL against the NDX.
It would seem that the "cannibalization" of AAPL did, indeed, occur, as I first mentioned in my post of October 23, 2012, and subsequent posts.
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