AAPL After Hours: Why Apple Stock Rebounded Viciously

Apple stock rebounded strongly following the Monday selloff. Here is why AAPL shares were up nearly 3% on Tuesday, July 20.
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What an intense week it has been so far for Apple stock  (AAPL) - Get Apple Inc. (AAPL) Report – and it is only Tuesday.

On July 20, shares of the Cupertino company skyrocketed: up 2.6%. But the gains only helped to partially offset the losses from the previous day, when AAPL followed the rest of the stock market lower and sunk by 2.7%.

Below is a quick summary of what likely impacted Apple's share price movements on Tuesday, the best day of returns for AAPL investors since March 2021.

AAPL stock price action on July 20 at the close

AAPL stock price action on July 20 at the close

Also read: iPhone 13 Could Push Apple Stock Even Higher 

Apple news of the day

  • Probably the most important factor behind Apple stock's outstanding performance on Tuesday surfaced on Monday. Driven by fears over COVID-19's delta variant, in addition to a couple of company-specific developments that were short of encouraging, AAPL was probably oversold. Tuesday's price action was likely a corrective reaction to overly bearish investor sentiment, first and foremost, that pushed Apple shares from a peak of over $149 on July 14 to less than $143 on Monday.   

Also read: A Yellow Flag Has Been Raised

Key metrics on Apple stock

After spending months below the all-time high of late January, Apple stock finally climbed to new highs in July. Below are a few key Apple stock-related metrics:

  • AAPL is up 10% for the year vs. the S&P 500's 16% and the Nasdaq's 15% gains.
  • AAPL is down only 2% from the July 14 peak of $149 per share.
  • The company's equity is worth $2.44 trillion, the highest in the US stock market.

Also read: Apple Stock 101, What All Investors Should Know