Apple Stock Is Down 20% From Its High. Time to Buy?

Apple $Apple (AAPL.US)$ shares reached an all-time high in January 2022, coming off a stellar year for the tech industry in which the COVID-19 pandemic led homebound consumers to invest heavily in home office and entertainment devices.

However, the rest of the year hasn't gone as well. While 2022 started off on a high, increases in inflation have severely stunted consumer spending, leading to a stock market sell-off.

Although Apple shares have dipped 20% year to date, the iPhone manufacturer has fared better than most tech companies this year. For instance, $Netflix (NFLX.US)$ and $Advanced Micro Devices (AMD.US)$ shares are down more than 50% year to date. Despite a slowdown in spending in multiple industries, Apple has retained strong demand and sales of its products.