The long-term upward trajectory in the U.S. stock market has its foundation in the country's democratic political system (remember to vote today!) and its market-based, capitalist economic system. In theory, the stock market efficiently allocates the nation's capital to generate solid investment returns. Theory typically turns into reality in November, which since 1980 has been the best month for equity performance, with an average 2.1% gain, ahead of April (+1.60%), July (+1.4%) December (+1.3%), and October (+1.3%). November's batting average is high as well: stocks advance during the month 72% of the time. The best Novembers have been 1980 (+10.2%), 2001 (+7.5%), 1996 (+7.3%), 1985 (+6.5%), 1998 (+5.9%), and 2002 (+5.1%). But there have been some clunkers: 2000 (-8%), 2008 (-7.5%) and 1987 (-5.9%). Last year, the S&P 500 rose an impressive 8.9% for the month. What about during presidential-election years? Good question. The track record is even more impressive here. For the 11 election-year Novembers since 1980, stocks have, on average, climbed 2.6%. November usually starts off at a fast pace, as nonfarm payrolls are reported and many companies are still reporting 3Q earnings. This year, the Fed meets this week and will likely lower rates again. The presidential election will undoubtedly be close, and may take a few days to produce an eventual winner -- but that doesn't have dent November's long-time track record.

Apple manufactures smartphones, tablets, PCs, software, and peripherals for a worldwide customer base. Its products include Mac desktop and mobile PCs, iPhone, iPad, Apple Watch, and various consumer products, including AirPods, Beats headphones, and Apple TV. Apple services include App Store, iTunes, iCloud, Apple TV+, Apple Arcade, Apple Music, Apple Pay, and more.

U.S. stocks fell on Thursday on disappointing results from Tech companies. Both the S&P 500 and the Nasdaq posted their largest one-day losses since the beginning of September. The S&P 500 was down 1.9%, the Nasdaq lost 2.8% and the Dow fell 0.9%. Both crude oil and gold traded higher.

Apple is among the largest companies in the world, with a broad portfolio of hardware and software products targeted at consumers and businesses. Apple’s iPhone makes up a majority of the firm sales, and Apple’s other products like Mac, iPad, and Watch are designed around the iPhone as the focal point of an expansive software ecosystem. Apple has progressively worked to add new applications, like streaming video, subscription bundles, and augmented reality. The firm designs its own software and semiconductors while working with subcontractors like Foxconn and TSMC to build its products and chips. Slightly less than half of Apple’s sales come directly through its flagship stores, with a majority of sales coming indirectly through partnerships and distribution.