Apple Shares Drop 2% After WTI Crude Tops $108, Nasdaq Futures Fall 400 Points
Apple’s shares slipped 2.0% in after-hours trading as West Texas Intermediate crude surged past $108 per barrel, triggering a 400-point drop in Nasdaq futures. The retreat extends last week’s 6.8% monthly loss by undercutting consumer spending on iPhones, iPads and Macs during rising energy costs.
1. After-Hours Share Decline
Apple’s shares fell 2.0% in after-hours trading as of 8:30 PM ET following a surge in oil prices that rattled tech markets.
2. Oil Price Surge and Market Reaction
West Texas Intermediate crude topped $108 per barrel, driving a 400-point drop in Nasdaq futures and heightening recession fears among investors.
3. Consumer Discretionary Impact
Rising energy costs are squeezing middle-income budgets and prompting consumers to delay iPhone, iPad and Mac purchases, weighing on revenue expectations.
4. Recent Stock Performance Trends
Apple has lost 6.8% over the past month, marking one of the larger declines among major growth stocks in the same period.