AAPL stock is down 13% in 2022

AAPL stock is down 13% in 2022

Apple (NASDAQ: AAPL) may be the most valuable technology business on the planet, but that doesn’t mean it’s immune to the recent sell-off in technology equities. So far in 2022, AAPL stock is down 13%. You’d have to go back to the March 2020 stock market meltdown to see another drop to this extent.

On April 28, the corporation will disclose its second-quarter profits. Analysts will be keeping a careful eye on the supply chain disruption and its impact on sales. Apple has been plagued by ongoing problems with Chinese iPhone assembly plants forced to close due to COVID lockdowns.

Last December, an iPhone assembly plant in India that should have helped reduce reliance on Chinese facilities made headlines after it shut down due to worker protests about filthy working conditions. It didn’t reopen until the middle of January.

All of this might mean difficulties for most businesses. However, Apple appears to be able to overcome such obstacles. With that in mind, investors may wish to purchase AAPL shares before releasing the Q2 earnings report.

Apple released its first-quarter 2022 earnings in January. Despite the ongoing supply chain issues, it was again another record quarter. Revenue of $123.9 billion was up 11% year on year, setting an all-time high for quarterly revenue. Earnings per share of $2.10 were up 25% year on year and quickly outperformed the $1.89 predicted by Wall Street. One of the biggest reasons to buy AAPL stock right now is the company’s exponential rise in Services revenue. It covers App Store purchases and subscriptions to Apple services such as Apple Fitness+, Apple TV+, and Apple Music. The corporation has 745 million paid memberships at the end of 2021, including its benefits and third-party billing through the App Store. Services revenue continues to grow in the most recent quarter.