'High-quality' and 'reliable': Investor says Apple is a good stock for a volatile market

The landscape for tech has turned decidedly more bullish after a tough 2022 which saw the Nasdaq Composite tumble over 33% amid aggressive interest rate hikes. Now up 9.7% year-to-date, the Nasdaq is the best-performing major U.S. index this year. But the path of interest rate hikes remains uncertain amid stubbornly high inflation and the continuing strength of the U.S. consumer, while the prospect of a recession persists in the minds of investors.

It marked a rare earnings miss by the tech giant, its first in almost seven years. Apple's well-documented supply chain disruptions contributed to the miss, with fewer iPhone 14 Pro and iPhone 14 Max models available for sale on the back of a Covid-induced shutdown of a key assembly plant in China. Production is, however, now back to levels the company is comfortable with, according to Apple CEO Tim Cook. "I think [Apple] will always overcome the supply chain obstacles in the end.

I prefer Ford.

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Source: CNBC - 🏆 12. / 72 Read more »