Why Apple Stock Is Down 17% So Far This Year
Apple's (NASDAQ: AAPL) stock, like most other technology stocks, has taken investors on a roller-coaster ride this year. While the company's share price was volatile in the first few months of 2022, a significant downward trend began after the company reported second-quarter results in late April.
The stock hasn't recovered since. Year to date, Apple is down 17%, according to data provided by S&P Global Market Intelligence. This is mostly because investors are concerned that Apple won't escape the effects of supply chain shortages and a potentially slowing economy.
Investors fell into a pessimistic mode in late April after Apple released its second-quarter financial results. Apple beat analysts' consensus estimates for both top and bottom lines, but investors latched on to comments made by the company's management.
Source Fool.com
