$Apple(AAPL)$ aapl is a high end product. it's expensive, and it gets parts and requires labor. it's the opposite of a good play during inflationary times. they have a lot of cash sure, but that cash loses value every day while inflation runs rampant, when inflation is hurting the regular person's budget, they're not in a hurry to get a new cell phone, let alone the most expensive of them all.