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Apple Shares Retreat After Fiscal Q4 Report Proves Solid But Not Dazzling
Apple's stock, which has had a good year but is under pressure of late, fell after hours Thursday on the company's solid but hardly dazzling quarterly results.
Apple stock, which has risen 25% in 2024 to date but largely tracked the Nasdaq 100 Index, pulled back in after-hours trading after the company released solid but far-from-dazzling quarterly results. Quarterly numbers from Apple and fellow tech giant Amazon (also reporting Thursday) have been hotly anticipated by Wall Street as concerns mount that the sector is overvalued. Many investors are nervous about the tech sector’s aggressive investment in AI technology, with disclosures of higher expenses dragging down shares in Meta Platforms and Microsoft during Thursday’s session.
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