Apple Shares Rise Following Fed Announcement
Shares of Apple Inc. (NASDAQ: AAPL) increased nearly 3% on Wednesday after the Federal Reserve announced plans to taper its asset purchases more aggressively to address inflation, which hit a record 9.6% in November. This shift suggests that interest rates may rise, with the Federal Open Market Committee anticipating three rate hikes in 2022.
Despite the usual negative impact of reduced stimulus on stocks, investors reacted positively as the Fed’s actions were largely expected. This relief allowed a renewed focus on Apple’s business fundamentals, with a significant boost expected from 5G iPhone upgrades and strong demand for Macs and iPads, driven by the high-performance M1 chip.
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