Apple Stock Rises 2.5% in Morning Trading, After Dropping 3% to a 52-Week Low on Wednesday
Tiger Newspress2022-12-29
Apple stock rises 2.5% in morning trading, after dropping 3% to a 52-week low on Wednesday.
Apple stock has fallen in recent weeks on concerns about iPhone production and as investors have priced in higher interest rates next year. However, there's a silver lining in the news about production delays.
Demand has been strong for the new iPhones and for the higher-priced Pros, meaning that sales should rebound when production improves.
Over the longer term, the impact from the manufacturing delays should be negligible, but the potential for a recession next year adds another headwind for the stock.
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