Apple Shares in Sweet Spot as Traders Rush to Safety
- Shares rallied 3.2% Tuesday even as tech stocks sold off
- Strong iPhone demand, speculation about car effort spur gains
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As technology stocks have slumped over the past week, traders have found a haven in the sector: Apple Inc.
The stock rallied Tuesday to close at an all-time high even as tech shares and the broader market sold off on worries about higher interest rates and the omicron coronavirus variant. The iPhone maker was one of only seven stocks in the S&P 500 to rise, and it’s adding to those gains Wednesday, up as much as 1.9% to a fresh intraday record.