Why Apple Was Rising Today
Shares of Apple (NASDAQ: AAPL) were rising on Monday, up 2.4% as of 10:33 a.m. ET, about half a percentage point above the Nasdaq.
Tech stocks got a follow-through rally on top of Friday's surge, which came after some economic data pointed to a still-strong labor market but with decelerating wage growth and moderating services demand. That's what the Federal Reserve wants to see -- an economic cooling to tame inflation, but not so much of one that it affects the job market.
In addition to the positive macroeconomic news, a leading financial publication published a piece about Apple's upcoming AR/VR headset, which it expects will be released in the next few months. An exciting product launch could be the catalyst sending Apple's beaten-down shares above the market today.
Source Fool.com
