apple inc AAPL Stocks are trading lower on Monday morning. Here’s a look at What’s wrong.

What’s up: Apple has filed for a five-part promissory note offering, according to a new regulatory filing. The scope of the offering was not disclosed in the prospectus supplement.

The notes are divided into five distinct categories by maturity date: 2026, 2028, 2030, 2033 and 2053. Apple said it intends to use the net proceeds for general corporate purposes, including repurchases of its common stock, paying dividends and working capital, investments, acquisitions and debt repayment.

Last week Apple reported better than expected Second Quarter Results. Several analysts raised price targets on the stock after the push. Apple shares rose from around $165 to $173 late last week. The stock is currently within striking distance of its 52-week highs.

Over the weekend, Warren Buffett Apple said it was a better deal than anything else in Berkshire’s portfolio, according to Reuters.

“Apple is different from the other companies we own. It’s just a better company,” Buffett said during an annual meeting of shareholders.

Look at that: Watch: iPhone ‘perfectly fine’ after falling 14,000ft from skydiver’s bag

AAPL Price Action: Apple has a 52-week high of $176.15 and a 52-week low of $124.17.

The stock was down 0.43% at $172.83 at press time Gasoline Pro.

Photo: courtesy of Apple.