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Why Apple Stock Climbed on Wednesday

TheMotleyFool

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Why Apple Stock Climbed on Wednesday: https://g.foolcdn.com/editorial/images/687604/well-dressed-person-in-an-office-looking-at-a-smartphone.jpg

Shares of Apple (NASDAQ: AAPL) climbed higher on Wednesday, adding as much as 2.4%. As of 12:42 p.m. ET today, the stock was up 1.3%.

The catalyst that sent the stock higher on a mixed market day was news that iPhone demand may be holding up better than investors expected, which could spell additional upside for the stock.

After initiating supply chain checks in China, Wedbush analyst Daniel Ives concluded there have been "steady with slight improvements, despite the zero-COVID-driven demand issues." The Chinese government has acted swiftly, initiating lockdowns for some of the country's largest cities to curb the spread of the pandemic, which has caused intermittent delays in the manufacturing sector.

Source Fool.com

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