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Apple's Stock Down 20% Since Early April Amid Broader Market Losses

Wednesday May 18, 2022. 06:41 PM , from MacRumors
Apple's stock opened at $146.85 today and continues to trend downwards, with shares currently trading below the $143 mark in today's session. Apple's stock price has declined approximately 20% since closing at $178.44 on April 4.

The stock market has experienced broader losses since the start of April, with the S&P 500 down around 13% and the Dow Jones down around 8.5% over that period. Many other tech companies are in a similar boat, with Google parent company Alphabet's and Microsoft's stocks also down around 20% since early April as two larger examples.

Apple has been financially successful during the COVID-19 pandemic, with the company recently setting a new March quarter revenue record of $97.3 billion. However, on an earnings call last month, Apple said supply constraints caused by COVID-related disruptions and industrywide silicon shortages were impacting the company's ability to meet customer demand, resulting in lengthy shipping estimates for devices like the MacBook Pro.Tag: AAPLThis article, "Apple's Stock Down 20% Since Early April Amid Broader Market Losses" first appeared on MacRumors.comDiscuss this article in our forums
https://www.macrumors.com/2022/05/18/aapl-down-20-percent-since-early-april/
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