Shares of several companies in the broader technology sector, including Apple Inc (NASDAQ: AAPL), are trading higher amid overall market strength as stocks rebound from recent weakness. The tech sector at large has experienced volatility amid rate hike concerns.
Apple shares (NASDAQ:AAPL) otherwise saw weakness last week and were trading lower amid continued volatility as investors digest the latest U.S. inflation data, which came in higher-than-expected.
The headline CPI rose 8.3% in April, down slightly from 8.5% in March but above economist estimates of 8.1%. Prior to 2022, the CPI hadn't risen 8.3% in any month since 1982. Core inflation, which excludes volatile food and energy prices, was up 6.2% in April, above economist estimates of a 6% gain.
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Apple designs a wide variety of consumer electronic devices.
According to data from Benzinga Pro, Apple has a 52-week high of $182.94 and a 52-week low of $122.86.
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