Apple stock rises toward 8th-straight gain
Shares of Apple Inc. climbed 1.3% toward a five-week high, putting them on track to record an eighth-straight gain. That would be the longest win streak since the nine-day stretch of gains that ended on Nov. 24, 2021. The technology behemoth's stock has run up 14.5% during its current win streak, the best eight-day stretch since it soared 18.6% in the eight days ended Aug. 11, 2020; during the nine-day win streak ended on Nov. 24, 2021, the stock rose just 9.5%. Just before the start of the current win streak, the stock had closed at a four-month low. The stock's rally comes as Wedbush analyst Dan Ives said in a recent note to clients that his supply chain checks in Asia indicate there is "stellar" demand for iPhone 13s globally. The stock has slipped 2.9% year to date, while the technology-heavy Nasdaq 100 has dropped 10.0% and the Dow Jones Industrial Average has declined 4.7%.
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