The Clap
Apple is watching its spending and job growth at some of its divisions.
The Deets
Apple is following the lead of other tech giants and slowing down hiring and expenditures, indicating fears of a recession.
This move also worries investors as earnings are set to be announced this week for the tech industry. While jobs are not yet being eliminated, the slowdown indicates that Apple is taking a precaution in spending.
How’d this influence the shares?
This pushed Apple’s shares down by almost 2%, along with a number of other tech giants in the market including Google and Microsoft.
Apple grows more cautious as hiring slows down 🤌
