Apple Inc. (NASDAQ: AAPL) has seen its stock plunge to an eighteen-month low this week after iPhone supply issues and a broader downturn in the stock market caused the tech giant's shares to decline nearly 30% in 2022. The former patent attorney at Apple is also suing the multinational tech company for discrimination and for failing to protect her from a colleague.
The tech-induced rout seen this year had a significant effect on Apple's stock, which is often considered an all-weather stock, and the company's shares slumped 1.7% in afternoon trading, enough to pace the Dow Jones Industrial Average's decliners.
According to Nikkei Asia, Apple CEO Tim Cook had a special request for Japanese Prime Minister Fumio Kishida during his recent visit to the country, which was to help Apple create more jobs in Japan by allowing the tech giant to open up more Apple Stores in the country.
Yahoo Finance's Brian Sozzi discussed an analyst's call on Apple stock in a video transcript. The analyst believes that Apple will benefit from their recent investments in the healthcare sector and sees a potential for the stock to reach new highs in the near future.
The unrelenting volatility on Wall Street continues. After falling for much of the week, the market stock market indexes were all gaining on Friday, but Apple (NASDAQ:AAPL) was not immune to the market's volatility.
The tech giant's stock was down 1.4% as of 1:30 pm EST, after it had flirted with an 18-month low on Thursday. Apple's stock closed at $131.18, down from its all-time high of $233.47 in October 2018.
Investors have become increasingly concerned about Apple's persistent supply chain issues in China, and the tech giant has seen its shares decline more than 30% in the past year.
Apple has been one of the stock most watched by Zacks.com users lately, and it is worth exploring what lies ahead for the stock. Analysts believe that Apple will benefit from its focus on healthcare and services, and that the stock could go higher in the near future.
