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Why Apple Shares Are Diving

Apple Inc (NASDAQ: AAPL) shares are trading lower by 3.33% to $157.98 Tuesday in sympathy with the broader market after August CPI readings showed inflation came in greater than expected. This has caused economic concerns and has raised expectations for more aggressive Fed policy.

Benzinga · 09/13/2022 10:57

Apple Inc (NASDAQ:AAPL) shares are trading lower by 3.33% to $157.98 Tuesday in sympathy with the broader market after August CPI readings showed inflation came in greater than expected. This has caused economic concerns and has raised expectations for more aggressive Fed policy.

What Happened?

According to data from the U.S. Bureau of Labor Statistics, the headline CPI rose 8.3% in August, down from 8.5% in July. The August CPI reading came in above average economist estimates of 8%. 

Core inflation, which excludes volatile food and energy prices, was up 6.3% in August, above average economist estimates for a 6.1% gain...Read More

See Also: Here's How Much You'd Have Right Now If You Invested $1,000 In Apple Shares When Steve Jobs Resigned As CEO In 2011

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