Apple Inc.’s earnings Thursday now carry the burden of trying to turn the tide for technology stocks after the Federal Reserve’s signal of faster rate hikes made investors skittish.
Anything less than a top-notch earnings beat has the potential to disappoint shareholders as the stock has been outperforming peers so far this year, falling just 8% while the Nasdaq 100 Index is 12% lower. That would also put Apple further away from being the first $3 trillion company -- a milestone that was in touching distance just a few weeks back.
