THE NEW VALUE STOCK Apple ($AAPL) is a tech company in that it makes gadgets and apps, etc. Yet it rakes in cash (it generated US$23 billion in free cash flow last quarter) and has strong margins and loyal customers to boot. These qualities, some argue, resemble those of a value stock. For the uninitiated: value stocks (think: oil or banks) don't necessarily grow like crazy and for that reason tend to be undervalued. But for the price they're reliable moneymakers and thus relatively resilient. Value stocks have fallen 17% YTD, compared to the more precipitous drop of growth stocks, which have slid about 35%. Apple has split the difference, sinking only ("only" being relative in '22) 23% YTD.