Apple Inc. (NASDAQ:AAPL) shares are moving higher Wednesday. Here’s what you need to know.

The Fed also revised its economic growth forecast for 2024 down to 2%. Inflation projections for the same year were also lowered, while unemployment rates were revised upward through 2026.

Future Rate Path: The updated Dot Plot suggests another 50 basis points in cuts in 2024 and an additional 100 basis points by the end of 2025, highlighting a more aggressive easing approach compared to previous projections. This outlook signals a significant shift from the Fed's earlier stance and impacts projections for economic metrics over the next few years.

See Also: Powell Defends 0.5% Interest Rate Drop As ‘Right Thing For The Economy,’ Doubles Down On Fed’s Cautious, Data-Driven Approach

Foxconn demonstrated strategic acumen by focusing on modular EV platforms that allow for cost-efficient, unique model creation. The company has also approved a $246 million investment in Northern Vietnam for manufacturing EV parts, with operations expected to start in January 2025. This investment underscores Foxconn's commitment to enhancing its production capabilities and positioning itself as a notable player in the EV industry.

AAPL Price Action: Apple shares closed Wednesday up 1.80% at $220.69, according to Benzinga Pro.

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Photo: Courtesy Apple Inc.