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What's Going On With Apple Shares

Benzinga Real-time News ·  Nov 3, 2022 10:18

Apple Inc (NASDAQ:AAPL) shares are trading lower by 3.29% to $140.26 Thursday morning. Shares are falling amid overall market weakness as stocks see volatility following the Fed's decision to hike rates by 75 basis points.

What Happened?

The Federal Reserve raised its target fed funds rate by 0.75% on Wednesday to a new range of between 3.75% and 4%, its fourth 0.75% rate hike in five months.

The Fed said it will continue with its previously announced plan to let Treasury securities and agency debt and agency mortgage-backed securities roll off its balance sheet on a monthly basis.

"Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures," the Fed said in a statement...Read More

According to data from Benzinga Pro, AAPL has a 52-week high of $182.94 and a 52-week low of $129.04.

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
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