Apple Stock Is Down 25% From Its High. Time to Buy?
On Jan. 3, 2022, Apple's (NASDAQ: AAPL) stock reached an all-time high of $180.73 after a nearly two-year period where the tech industry flourished. Pandemic closures throughout 2020 and 2021 led people to invest in home offices and entertainment devices, which provided a welcome boost to the whole market. However, economic headwinds and a sell-off in 2022 have led Apple shares to fall 25% since its all-time high.
Despite declines in its stock price, the company remains one of the most reliable long-term investments. Here's why the sell-off makes now an excellent time to buy Apple stock.
Production concerns involving the iPhone dominated headlines toward the end of 2022. Increased COVID-19 restrictions in China put manufacturing strains on Foxconn, also known as Hon Hai Technology Group, which produces about 70% of all iPhones. Investors' concerns have since eased. Production capacity has returned to 90%, Apple made plans to leave China entirely in the coming years, and Foxconn announced it would expand to Southeast Asia this year.
Source Fool.com
