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Apple Erases Losses for the Year, on Course for 11th Straight Rise

Published 03/29/2022, 10:26 AM
Updated 03/29/2022, 10:27 AM
© Reuters
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By Sam Boughedda

Investing.com -- Apple Inc (NASDAQ:AAPL) shares are up for the 11th straight day on Tuesday, erasing its 2022 losses and on track for its longest number of daily gains since 2003.

Shares of the technology giant are up more than 1% on Tuesday, helping the company to erase its year-to-date losses which had seen the stock fall to around $150 per share earlier this month. 

The move comes on the back of a broad rise in tech stocks after a bad start to 2022. It is also somewhat surprising given reports that Apple is reportedly cutting iPhone SE production due to weaker demand. 

However, stocks, in general, are rising Tuesday, in the hope that talks between Ukraine and Russia being held in Turkey will result in a ceasefire. 

Meta (NASDAQ:FB), Amazon (NASDAQ:AMZN), Netflix (NASDAQ:NFLX), and Alphabet (NASDAQ:GOOGL) are all also trading higher.

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