Apple Was the Worst Stock in the Dow Friday
The Dow Jones Industrial Average dropped close to 350 points on Friday, despite a better-than-expected jobs report. For the week, however, the Dow Jones finished higher by nearly 165 points as volatile trading continued.
No stock in the Dow saw a bigger percentage drop than Apple (NASDAQ: AAPL), which fell nearly 4% today after several analysts warned about slowing App Store revenue growth. Intel (NASDAQ: INTC) was the day's second-biggest loser on a percentage basis, finishing the day more than 3% down.
Although ADP reported yesterday that private payrolls in May added the smallest number of new jobs since the COVID-19 recovery began, the U.S. Bureau of Labor Statistics reported today that nonfarm payrolls added 390,000 jobs last month. That was much stronger than the 328,000 jobs that most economists had been expecting. The conflicting data is nothing new, as investors struggle to try and figure out where the economy could land over the next six to 18 months.
Source Fool.com
