this year is the worst level that value has traded to on a valuati valuation. it's over. it's extended. value is the new growth. >> good thing you didn't bring a hot take or anything like that by the way, steve, we were happy when apple hit 83 on the upside, presplit, of course. now i guess we'll be sad if it's the same 83. nancy, do you own apple? if so, are you one of the sellers that are out there this week >> i am a long-term manager but i invest in the small to mid cap space. so we have not been able to own apple for many, many years, over a decade but i do agree with steve that i think this could be the beginning of a meaningful switch in the market. not necessarily away from all caps, but certainly away from some of the tech that's been most exploited and that people have been most excited about, the companies that have been the market share gainers in this environment. i think it's interesting to note that the day that apple peaked was also the day that the market cap of apple was larger than the market cap of the entire russell 2000 what we see here is a pause fo

valuati valuation, i think there's a problem, i think tech stocks benefitted from coronavirus and workknows how to value them. you guys love talking about apple, look at apple in the last couple of months apple goes at the end of july from $100 to $138 in the month of august and then goes back all the way down you see here at $107 let me get this right, we rally 40% in the month of august and then we're down 20% in the month of september does that make any sense to you for the largest company in the situates does that tell you that investors are kind of clueless about how to value apple and this is apple, imagine everybody else that is a much smaller and whose earnings trajectory shall we say is a little more difficult to figure out. it's no wonder everybody is confused at this point when i'm confused i call art cashin and ask him what goes on, with he did a trader talk on this this morning, art explains what's going on in the market, you're looking for logic in a market that's not logical. it's momentum driven, the covid stocks up like apple and when they get too frothy they hit sell