Why Apple Stock is falling today

The market as a whole is down, but the tech sector is doing worse.

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Red arrow going down, symbolising a falling share price.

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This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

What happened

Shares of Apple (NASDAQ: AAPL) were falling 3.9% heading into noontime trading Wednesday as retail sector earnings have been weaker than expected this week and the Federal Reserve is expected to further tighten the screws on the economy.

There has also been an uptick in cases of COVID-19, which caused Apple to delay implementation of its three-days-in-the-office policy.

So what

While the Dow Jones Industrial Average is tumbling almost 750 points lower, or 2.2%, the tech-laden Nasdaq 100 is down 3.3% so far. 

Even so, Bank of America thinks Apple is one of the companies that ought to perform well in the current inflationary environment. And analysts have noted its strong quarterly earnings report despite supply chain issues and the chip shortage that has weighed on industries of all kinds for at least a year now.

According to TheStreet.com, the bank's list includes stocks on the S&P 500 whose performance is inverse to its inflation indicator, for which its data goes as far back as 1975.

Now what

Apple employees have long complained about having to go back to work in the office. Ever since they've been able to work from home because of the pandemic, they believe they should be allowed to continue doing so.

Apple, though, was preparing to have them return to the office next week and work on site on Mondays, Tuesdays, and Thursdays. But with the rise in COVID cases, it has put the measure on hold for an undetermined period. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

Rich Duprey has no position in any of the stocks mentioned. Bank of America is an advertising partner of The Ascent, a Motley Fool company. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Apple. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has recommended the following options: long March 2023 $120 calls on Apple and short March 2023 $130 calls on Apple. The Motley Fool Australia has recommended Apple. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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