Apple Inc AAPL shares are trading lower by 1.58% to $137.30 Wednesday. The stock is potentially trading lower amid overall market weakness as investors anticipate upcoming CPI data. Major indices are also trading lower as investors assess the incoming results of the midterm elections.
What Else?
Apple shares have seen marked weakness in recent sessions as stocks fall on concerns over a tight labor market, which could impact future Federal Reserve policy. Last Wednesday’s Federal Reserve decision and subsequent comments from Fed Chair Powell sent stocks lower as Powell said the chances of a soft landing have narrowed and reiterated the need to combat inflation.
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Additionally, Apple shares are trading lower this week after the company said iPhone shipments could experience delays due to restrictions at the Foxconn plant in China. Bloomberg reported the company lowered its iPhone production outlook amid demand concerns.
According to data from Benzinga Pro, AAPL has a 52-week high of $182.94 and a 52-week low of $129.04.
