Apple's Stock Bounces, After Outperforming Amid The Brexit Fallout

By Markets MarketWatch Pulse

Apple Inc.'s stock rose 1.1% in premarket trade Tuesday, bouncing after two days of losses as part of the market turmoil in wake of the U.K. vote to leave the European Union. The stock had lost 4.2% over the past two sessions, but outperformed the Dow Jones Industrial Average , which shed 4.8%. Apple generated 2.3% of revenue over the last 12 months from the U.K., according to estimates derived from FactSet's proprietary algorithm, and about 15% of its revenue from Europe. RBC Capital analysts had said in a recent note to clients that companies with strong cash positions and stable operating profiles, such as Apple, may do relatively well amid the Brexit uncertainty.

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.