Here's Why Apple Shares Are Rising Today

Here's Why Apple Shares Are Rising Today

Apple Inc AAPL shares are trading higher by 1.73% to $171.41 Friday afternoon amid overall market strength. Stocks across sectors are trading higher as stocks continue to rally following CPI and PPI data this week, which has alleviated inflation concerns. Lighter-than-expected inflation has also decreased expectations for highly-aggressive Federal Reserve policy.

What Happened?

The headline CPI rose 8.5% in July, down from 9.1% in June. June had marked the highest CPI inflation reading since November 1981. The July CPI reading also came in below economist estimates of 8.7%.

Core inflation, which excludes volatile food and energy prices, was up 5.9% in July, below economist estimates of a 6.1% gain... Read More

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

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