Shares of companies in the broader technology space, including Apple Inc (NASDAQ: AAPL), are trading lower amid a rise in bond yields, which has weighed on growth stock valuations.
The 10-year Treasury yield hit an intraday high of 1.508% Monday morning before dipping to around the 1.496% level. The spike in the 10-year note Monday comes after the Federal Reserve in September spoke on winding down its ongoing asset purchasing program.
Apple designs a wide variety of consumer electronic devices, including smartphones (iPhone), tablets (iPad), PCs (Mac), smartwatches (Apple Watch), AirPods and TV boxes (Apple TV), among others. The iPhone makes up the majority of Apple's total revenue.
Apple has a 52-week high of $157.26 and a 52-week low of $107.32.
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