(LR) Apple CEOs Tim Cook, Vivek Ramaswamy and Homeland Security Secretary Kristi Noem will attend the inauguration ceremony before Donald Trump is sworn in as the 47th US President at the U.S. Capitol in Washington, DC on January 20, 2025.
Saul Roeve | AFP | Getty Images
The stock market was significantly wider on Monday than the previous two days, apple It lost 3.7% and was hit by hammer again after concerns that the company would be hit hard by President Donald Trump’s tariffs.
The sale will bring Apple’s three-day defeat to 19%. This is a downdraft that wiped out its market capitalization of $638 billion.
Apple says it is one of the most exposed companies in the trade war, mainly due to its reliance on China, which faces 54% tariffs. Apple produces in India, Vietnam and Thailand, but these countries are also facing increased tariffs as part of Trump’s drastic plan.
Of Tech’s Megacap companies, Apple has the roughest stretch. On Monday, Apple was the only stock to fall in a group of seven. Microsoft and Tesla.
Nasdaq almost rose nearly barely on Monday after plunging 10% last week. This is the worst performance in over 5 years.
Analysts say Apple will need to raise prices or incur additional tariff costs when the new obligation comes into effect. UBS analysts estimated on Monday that Apple’s finest iPhone could rise around $350 (about 30%) from its current price of $1,199.
Barclays analyst Tim Long wrote that he hopes Apple will raise prices or that the company could cut 15% in earnings per share. Also, because Apple can relocate its supply chain, imports into the US can come from other countries with low tariffs.
Apple declined to comment on the tariffs.
clock: Apple will drive Trump’s tariffs
