Apple Stock Gained as Tech Tumbled Tuesday. Here’s Who Was Driving the Move.
Apple Stock Gained as Tech Tumbled Tuesday. Here’s Who Was Driving the Move. Apple shares had their widest outperformance versus the Nasdaq Composite index on non-earnings days in more than eight years. It theorizes that an increase in retail participation in the stock and related calls “may have helped to exacerbate” a flight-to-safety move that benefited Apple shares.
Traders and investors offered a few theories, including signs of strong demand and possibly diminishing supply constraints, on why Apple stock (ticker: AAPL) held up so well.
Fresh data suggest that Apple is seeing extremely strong demand in Asia for the iPhone 13 line. The smartphone sales in Asia rose 57% sequentially in October, with Apple unit sales up 820% from September to a record 10.8 million units, and 85% higher on a year-over-year basis.
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