Shares of several companies in the broader technology sector, including Apple Inc 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 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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