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Analysis | The Big Tech Apples May Have Further to Fall

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The news that Apple plans to slow down its hiring and spending plans next year was enough to send the entire market plummeting.

Shares of the world’s largest tech company have fallen 17% this year as a tech selloff, driven by rising interest rates and inflation, promises to force consumers to cut spending.

A vote of confidence from Warren Buffett, who touted Apple as a good bet in an inflationary environment due to the ease with which it can raise prices, doesn’t appear to have given the company much momentum. And while stocks haven’t performed well, business appears to be doing well, with some analysts predicting earnings for the June quarter will beat expectations.

 

Yahoo Finance markets reporter Jared Blikre observes the market action heading into the final trading hour, in addition to the bond market, U.S. dollar, and Chinese stocks.

 

 

Usama Younus

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