0.5% rate hike: why is it good for apple stocks?

The big news on May 4th was the Federal Reserve’s announcement of a 50bp hike in US short-term interest rates. It was the biggest rise in two decades, and it comes on the heels of rampant inflation.

Immediately before the announcement, apple stock (AAPL) – Get the Apple Inc. report. It traded up to 2% higher. Stocks lost ground in the middle of the afternoon, and so did the rest of the stock markets. But a late session rally pushed AAPL to $166 a piece and out of correction territory.

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