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Why Apple Stock Rallied Today

TheMotleyFool

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Why Apple Stock Rallied TodayPhoto, wide shot, wide-angle lens, Hedge fund, neutral atmosphere, photo by Charlie Waite: https://img.theapi.app/temp/95282efd-f725-49c0-be40-aa74627f7ccc.png

Shares of Apple (NASDAQ: AAPL) climbed nearly 3% on Wednesday, following the Federal Reserve's statement.

The Federal Reserve plans to taper its asset purchases at a faster rate to combat rising inflation. The announcement came after wholesale prices surged a record 9.6% in November.

This tapering positions the Federal Reserve to begin raising interest rates next year. Members of the Federal Open Market Committee forecast three rate hikes in 2022.

Source Fool.com

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