The S 500 index has had a pretty strong year so far, as it has risen nearly 10% on a practically straight upward climb. However, one of its largest and most iconic components hasn't had the same success. Apple (NASDAQ: AAPL) has gone in the opposite direction, down nearly 12% in 2024.

That's a pretty concerning divergence for one of the most important companies in the market, and some investors might question whether this is a legitimate move or an overreaction. So, is it time to take advantage of this drop and buy some Apple stock?

If you've been following Apple for a while, it's clear it hasn't been doing well. In the first quarter of fiscal-year 2024 (ending Dec. 30, 2023), its revenue rose only 2%. In a vacuum, this may be disappointing. But it comes after four straight quarters of declining revenue, so the slight increase was a welcome sight to investors.

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Source Fool.com