While the seemingly never-ending range of the S&P 500 has been well documented, the stock of America’s largest company has also been uncommonly stable. With closing prices confined to a range of between $120.07 and $133 over the last 100 trading days (shaded area top chart), shares of Apple (AAPL) have traded in a range of less than 11%. Furthermore, before last Thursday’s swoon AAPL’s range over the prior 100 trading days dropped down to less than 9%! Going back to 2000, there has never been a 100 trading day period where AAPL’s range was lower than it has recently been. While part of the decline in volatility for AAPL’s stock can be attributed to its market cap (volatility is often inversely correlated to market cap), the lack of volatility over the last few months has been extraordinary nonetheless.