Needham & Co. Semiconductor Analyst Charles Shi joins Yahoo Finance Live to discuss the impact of China's COVID policy on the semiconductor industry and companies that rely on chips.
There wasn't much new or exciting reported with Apple (NASDAQ: AAPL) stock on Friday, save for a fresh development in the legal sphere. Apple enthusiasts tend to get excited about the stock when the company announces a flashy new product or some positive financial news, not so much when the latest is about the law. Apple closed the day only 0.3% lower, against the bellwether index's 0.7% decline.
After leading the way for the better part of a decade, 2022 has presented a humbling experience for tech stocks. Three of the world's most valuable companies -- Apple (NASDAQ: AAPL), Microsoft (NASDAQ: MSFT), and Alphabet (NASDAQ: GOOG) (NASDAQ: GOOGL) -- have all seen their stock prices drop by more than double digits this year. In its fiscal year 2022 (FY22), Apple beat Wall Street's expectations by bringing in $394.3 billion in revenue, an 8% increase year over year.