Apple Stock Surge Raises Stakes as Earnings Loom
Even as Apple Inc. contends with rising inflation, cooling consumer demand, the strengthening dollar and lockdowns in China,
its share price has surged in recent weeks and is heading for its biggest monthly gain in almost two years, up 15% in July.
The shares have beaten those of Microsoft Corp., Alphabet Inc. and Amazon.com Inc. this month,
With the US flirting with a recession and data showing the economy shrinking for a second straight quarter,
The rally means investor expectations are high for the company’s quarterly earnings, due after the market close Thursday.
Surprisingly positive results from Microsoft and Google parent Alphabet also have upped the ante for Apple.
“Apple is outperforming because it’s a place of safety for investors,” said Gene Munster,