100s of titles, one news app for just $10 a month.
Dive Deeper:
Get all your news in one place
Latest Business news:
Hedge Fund Up 138% This Year Is Turning Bullish on China Stocks
A fund manager who made triple-digit gains by hedging risks in Chinese equities is now turning bullish on mainland shares.
Read news from The Economist, FT, Bloomberg and more, with one subscription
Learn More
Apple Analyst Hints At Imminent Launch Of Next Iteration Of This Key Product
Apple, Inc. (NASDAQ: AAPL) is expected to have a strong launch year in 2022.
Tesla Drops To Number 2: Is Cathie Wood's Ark Invest Losing Confidence In Its Favorite Stock?
Tesla, Inc. (NASDAQ: TSLA) stock has been going downhill since peaking in early November 2021.
Survivor, Bachelor in Paradise, Love Island: How Fiji is cashing in on reality TV favourites
Fiji is a small nation looking for big investment and it is working hard to make film and reality television…
What do Elon Musk and Jeff Bezos have in common? An unhealthy Twitter habit
They are two of the world’s richest people, and both are obsessed with space travel, but they use social media…
From analysis to good news, read the world’s best news in one place
The Stats Guy: What does tourism in Australia look like now that travellers are returning?
The tourism sector is preparing for a comeback. So, what is the state of play in the sector and what…
Tech’s High-Flying Startup Scene Gets a Crushing Reality Check
Job cuts and a sour investment climate are hitting big companies like Stripe and Instacart, and may slam smaller ones…

What's Going On With Apple Stock?

By Adam Eckert

Apple Inc (NASDAQ:AAPL) shares are trading lower Thursday and have fallen by nearly 10% over the last week.

Mega-cap tech stocks have taken a beating since the Federal Reserve raised rates by 50 basis points last Wednesday, its first rate hike of at least half a percentage point in more than 20 years. Stocks surged following the announcement, but pulled back significantly the following day.

In just three trading days following the rate hike, Apple's market cap declined by about $220 billion. The stock has continued to trend lower this week following higher-than-expected U.S. inflation data. 

The consumer price index increased 8.3% in April from the prior year, which was lower than the 8.5% increase in March. However, the number came in above the Dow Jones estimate of 8.1%. Although the CPI number was lower than it was in March, 8.3% inflation is still near the highest levels in 40 years. 

See Also: Why Apple Stock Will Bounce Despite Bear Cycle

AAPL 52-Week Range: $122.25 - $182.94

According to data from Benzinga Pro, the stock was down 3.12% at $141.87 at press time.

Photo: courtesy of Apple.

What is inkl?
The world’s most important news, from 100+ trusted global sources, in one place.
Morning Edition
Your daily
news overview

Morning Edition ensures you start your day well informed.

No paywalls, no clickbait, no ads
Enjoy beautiful reading

Content is only half the story. The world's best news experience is free from distraction: ad-free, clickbait-free, and beautifully designed.

Expert Curation
The news you need to know

Stories are ranked by proprietary algorithms based on importance and curated by real news journalists to ensure that you receive the most important stories as they break.