Shares of Apple Inc. AAPL slid 1.92% to $188.04 on Tuesday, contributing to the stock's fifth consecutive day of losses. Despite this decline, the performance of the stock market was mixed during the trading session, with the Dow Jones Industrial Average DJIA rising 0.35% to 38,467.31 and the NASDAQ Composite Index COMP falling 0.76% to 15,509.90.
Apple Inc. Closes Below 52-Week High
Apple Inc. closed $11.58 below its 52-week high, which the company achieved on December 14th. It is worth noting that the stock's price decline was not unique to Apple, as some of its competitors also experienced a drop in their stock prices on Tuesday.
Competitors Face Similar Challenges
Microsoft Corp. MSFT fell 0.28% to $408.59, Alphabet Inc. Cl C GOOG fell 1.16% to $153.05, and Alphabet Inc. Cl A GOOGL fell 1.34% to $151.46. The underperformance of Apple Inc. in comparison to its competitors suggests the challenges faced by the tech sector as a whole.
Trading Volume Exceeds Average
The trading volume for Apple Inc. reached 55.2 M, surpassing its 50-day average volume of 52.4 M. This indicates increased market activity and interest in the company's stocks.
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