Apple Inc. (AAPL) experienced a 1.46% decline in its stock price on Thursday, closing at $174.00. This downward trend coincided with a generally unfavorable trading day for the stock market. The NASDAQ Composite Index (COMP) fell 1.17% to 13,316.93, while the Dow Jones Industrial Average (DJIA) dropped by 0.84% to 34,474.83.
Third Consecutive Day of Losses
This marked the third consecutive day of losses for Apple Inc., reflecting a challenging period for the company’s shares. Despite this decline, it is important to note that Apple Inc. closed $24.23 short of its 52-week high of $198.23, which was reached on July 19th.
Underperformance Compared to Competitors
On the same day, Apple Inc. underperformed when compared to some of its industry competitors. Microsoft Corp. (MSFT) saw a 1.10% decrease, closing at $316.88. However, Alphabet Inc. Cl C (GOOG) experienced a 1.05% rise, reaching $130.46, and Alphabet Inc. Cl A (GOOGL) saw a 0.95% increase, closing at $129.92.
Increased Trading Volume
The trading volume for Apple Inc. on Thursday was 61.2 million shares, surpassing its 50-day average volume of 55.4 million shares.