Apple stock on track for longest weekly losing streak in more than 2 1/2 years

Shares of Apple Inc. edged up 0.3% in premarket trading Friday, but remained on track to suffer a sixth-straight weekly loss, ahead of the technology giant’s Worldwide Developers Conference (WWDC) next week. That would be the longest such loss streak since the eight-week stretch through the week ended Nov. 23, 2018. The stock needs to gain 0.9% Friday, to at least $124.61, to snap the weekly loss streak. The stock has lost 8.0% during the current streak through Thursday, and has lost 13.7% since the Jan. 26 record close of $143.16. In comparison, the Dow Jones Industrial Average has run up 11.8% since Jan. 26. Apple has been embroiled in a landmark trial, in which “Fortnight” maker Epic Games Inc. filed an antitrust lawsuit citing monopolistic practices by Apple’s App Store. Separately, Wedbush analyst Dan Ives said in a recent note to clients that Apple will likely introduce a new Mac product at Monday’s WWDC, as well as iOS upgrades and software enhancements.

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