Apple Inc AAPL shares are trading lower by 2.06% to $149.22. Shares of companies in the broader technology sector are trading lower during Friday's trading session amid fears of an economic slowdown, which has negatively impacted the outlook growth sectors and caused a risk-off sentiment in today's session.
Economic uncertainty following a bearish outlook from FedEx has also weighed on stocks across sectors Friday. An economic slowdown could weigh on consumer spending appetite.
Apple shares were also trading lower this week amid overall market weakness after August CPI readings showed inflation came in greater than expected. This has caused economic concerns and has raised expectations for more aggressive Federal Reserve policy.
What Else?
FedEx Thursday issued preliminary results. The company said it now expects first-quarter revenue of approximately $23.2 billion and first-quarter adjusted earnings to be around $3.44 per share. FedEx has withdrawn its fiscal year 2023 earnings forecast.
The company expects business conditions to weaken further in the second quarter...Read More
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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