Here's Why Apple And Microsoft Shares Are Rising Today

Shares of several companies in the broader technology space, including Apple Inc AAPL and Microsoft Corporation MSFT, are trading higher as stocks rebound following Monday weakness after softer-than-expected US inflation data. A drop in yields has also helped lift the sector, though investors will await Wednesday’s Fed decision.

Apple and Microsoft shares may also be trading higher amid overall market strength following a lighter-than-expected U.S. PPI report. USA PPI month-over-month for Feb was 0.800% vs the 0.900% consensus estimate. The prior reading was 1.000%.

The 10-year US Treasury yield is otherwise again hovering around a two-year high, which has pressured valuations in 2022. The 10-year Treasury yield hit an intraday high of 2.169% Tuesday morning before dipping to around the 2.100% level. When interest rates rise, the value of future cash flows is reduced for growth stocks, which in turn lower the value of the stock.

Apple is trading higher by 2.3% at $154.06.

Microsoft is trading higher by 3.0% at $284.61.