Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

Apple Stock Gained as Tech Stocks Fell. This Is Why.

by
December 1, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter
Text size

iPhones are shown at the grand opening of a new Apple store in Los Angeles in November.

Mario Tama/Getty Images


Apple

shares were one of the few bright spots as markets sold off sharply on Tuesday, with almost every other major tech stock trading in the red.

Traders and investors offered a few theories, including signs of strong demand and possibly diminishing supply constrains, on why Apple stock (ticker: AAPL) held up so well.

RELATED POSTS

‘With Risk Comes Opportunity’: Oppenheimer Suggests 2 Stocks to Buy, Including One With 170% Upside Potential

India is a true bright spot in the midst of a global downturn, top execs and policymakers say

Fresh data suggest that Apple is seeing extremely strong demand in China for the iPhone 13 line. As Cowen analyst Krish Sankar pointed out in a research note earlier Tuesday, new data from the China Academy of Information and Communications Technology show that smartphone sales in the country rose 57% sequentially in October, with Apple unit sales up 820% from September to a record 10.8 million units, and 85% higher on a year-over-year basis.

MORE TECH Must-reads

Wedbush analyst Dan Ives added that based on retail and supply-chain checks, domestic iPhone demand over the Thanksgiving weekend appears to have been “robust.” He thinks investors view the stock as “a safety blanket name during this market turbulence.”

Asked about the rally in Apple shares, a trader at one major firm made the same point as Ives, saying that there is “euphoria” about apparent high demand for Apple products over the weekend, with delivery times apparently declining for iPhone models in multiple markets.

Apple shares closed 3.2% higher at $165.30, while the

Nasdaq Composite
fell 1.6% and the S & P 500 lost 1.9%.

Write to Eric J. Savitz at eric.savitz@barrons.com

ShareTweetPin

Related Posts

‘With Risk Comes Opportunity’: Oppenheimer Suggests 2 Stocks to Buy, Including One With 170% Upside Potential

by
January 27, 2023
0

S&P Futures 4,063.50 -12.00(-0.29%)   Dow Futures 33,995.00 -28.00(-0.08%)   Nasdaq Futures 12,038.25 -68.50(-0.57%)   Russell 2000 Futures 1,905.90 -4.60(-0.24%)...

India is a true bright spot in the midst of a global downturn, top execs and policymakers say

by
January 27, 2023
0

With 2023's World Economic Forum in Davos dominated by discussions of economic growth, or a lack of in most developed...

Buy the dip? Top Morningstar strategist names 3 stocks trading at a steep discount

by
January 27, 2023
0

This year is shaping up to be a "tale of two halves," according to Dave Sekera, chief U.S. market strategist...

Here’s where mainland Chinese traveled overseas for the Lunar New Year

by
January 27, 2023
0

BEIJING -- Travelers from mainland China stuck close to home in Asia during the Lunar New Year, the first holiday...

Morgan Stanley has a ‘simple’ tech playbook, names TSMC and others as stocks to buy right now

by
January 27, 2023
0

Tech stocks have staged a remarkable comeback this year, as investors flock to the sector once more. The tech-heavy Nasdaq...

Next Post

Elizabeth Holmes admits she went to Rupert Murdoch to try and kill WSJ Theranos story

Amazon rolled back Covid safety protocols in warehouses, says New York attorney general

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Buying a car from the factory sounds expensive, but it can actually save you money. Here’s how to do it.

    0 shares
    Share 0 Tweet 0
  • The states that won’t tax military retirement in 2022

    0 shares
    Share 0 Tweet 0
  • Roth TSP vs. Roth IRA: How Do They Compare?

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com