Shares of several companies in the broader technology space, including Apple Inc (NASDAQ:AAPL) are trading lower amid overall market weakness following worse-than-expected US inflation data, which has weighed on stocks across sectors.
The 10-year Treasury yield hit an intraday high of 1.592% before dipping to around the 1.551% level. This jump in Treasury yields has also weighed on growth and tech names for the session.
Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods, and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple’s total revenue.
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Apple has a 52-week high of $157.26 and a 52-week low of $112.59.