Apple Inc (NASDAQ:AAPL) shares are trading lower by 1.17% at $164.47 Friday and lower by 9.64% on a year-to-date basis. The move lower for Apple is likely in sympathy with the broader market as U.S. indices have also fallen on continued volatility as traders assess Fed policy outlook, rising Treasury yields and quarterly earnings reports.
Investors continue to assess upcoming corporate earnings while Tuesday saw a 3-year high of 2.940% for the 10-year note. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.
Traders and investors will be watching for Apple’s first-quarter earnings report, which is confirmed for Thursday after market close. The company is expected to report EPS of $1.43 on revenue of $94.02 billion.
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According to data from Benzinga Pro, Apple has a 52-week high of $182.94 and a 52-week low of $122.25.
