February 24, 2023

What's Going On With Apple And Microsoft Shares

Posted By: ndeeney

Apple Inc (NASDAQ: AAPL) and Microsoft Corp (NASDAQ: MSFT) shares are trading lower Friday afternoon amid overall market weakness following January PCE data, which showed a rise in US inflation. Rising inflation could lead to more aggressive Fed policy, which could negatively impact consumer spending.

© Provided by Benzinga

So What Happened?

Our Benzinga team reported the headline PCE rose 5.4% in January. That’s up from a 5.3% gain in December but still well below its 2022 high of a 7% increase in June. The January PCE reading came in well above economist estimates of 4.9%.

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Core PCE inflation, which excludes volatile food and energy prices, was up 4.7% in January, above economist estimates of 4.3%…Read More

According to data from Benzinga Pro: AAPL is trading lower by 2.34% to $145.91 MSFT is trading lower by 2.43% to $248.58

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

This article What’s Going On With Apple And Microsoft Shares originally appeared on Benzinga.com

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