Is Apple a beta stock?

I understand that the term "beta stock" refers to a stock that tends to be more volatile and correlated with the overall market movements. Given that, the question "Is Apple a beta stock?" begs for a closer look at Apple's historical performance and its relationship with the broader market indices. Firstly, Apple is a well-established and dominant player in the technology sector, with a market capitalization that far exceeds many of its peers. This suggests that it may not exhibit the same level of volatility as some smaller or more speculative stocks. However, it's important to note that Apple's stock price can still be affected by broader market trends and factors that impact the entire technology sector. Therefore, it's worth investigating how closely Apple's stock movements align with those of the S&P 500 or the NASDAQ Composite, which are commonly used as proxies for the overall market. Moreover, beta is a statistical measure of a stock's volatility relative to the market. It can vary over time and is influenced by a variety of factors, including changes in a company's fundamentals, investor sentiment, and market conditions. So, to answer the question "Is Apple a beta stock?", it would require a detailed analysis of Apple's historical beta values, as well as a consideration of the current market environment and Apple's position within it. Ultimately, the answer may depend on the specific time frame and the broader context in which the question is being asked.