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Apple and Microsoft Stocks Suffer Their Worst Week in Months

  • Post-Fed rally in mega cap technology stocks fizzled quickly
  • Apple’s slump this week was the worst since February

The initial rally in technology stocks after the Federal Reserve meeting proved to be short-lived with the shares of most megacap companies closing lower for the week.

Apple Inc. and Microsoft Corp., the largest by market value, were the two worst performers. Apple suffered a drop of 4.6%, its worst weekly decline since February. Microsoft fell 5.5%, the biggest weekly decline for the software maker since October 2020. Google-parent Alphabet Inc. sank 4.2%.