Shares of Apple (AAPL -4.04%) are heading lower in Thursday's trading. The tech giant's stock was down 4.2% as of 3:30 p.m.
While many beaten-down stocks registered large bounces yesterday, the immediate path ahead is murky for investors, at best. Stock Strategist Andrew Rocco explains.
Carolina Milanesi, Creative Strategies president and principal analyst, says Apple's reported airlift of iPhones from India to the US ahead of tariffs is unlike anything she has seen in her career. She explains why Apple is unlikely to build iPhones in the US with Caroline Hyde and Ed Ludlow on “Bloomberg Technology.
President Donald Trump's administration has been predicting its barrage of tariffs targeting China will push Apple into manufacturing the iPhone in the United States for the first time.
Apple stock faces significant risks, including soft iPhone sales, regulatory hurdles, and increased tariffs impacting consumer confidence and costs. Despite these challenges, EBITDA and free cash flow estimates have only slightly decreased. Peer group valuation shows a 30% upside, but global recession risks and valuation concerns justify maintaining a hold rating with a $204.61 price target.
All stocks eventually succumb to gravity, and Apple is no different. However, yesterday, the stock retreated to a level that has held for more than two decades.
Apple has reportedly flown 600 tons of iPhones into the U.S. in an anti-tariff measure. The effort, which brought up to 1.5 million of Apple's flagship smartphones into the country, came after the company ceased productions in India to overcome President Donald Trump's tariffs, Reuters reported Thursday (April 10), citing sources familiar with Apple's plans.
Apple dropped 4% after its best day since January 1998. Markets fell Thursday after President Trump announced a 90-day pause on some tariffs that spurred a historic market rally.
As ZaStocks pointed out on X, it was the second-biggest single day gain in Nasdaq history. The other two happened during bear markets.
Apple stock skyrocketed 15% on Wednesday after President Trump announced a 90-day pause on his administration's "reciprocal tariffs." It was Apple's best day since January 1998, when late founder Steve Jobs was the company's interim CEO and three years before the company unveiled the first iPod.
Shares of the consumer tech giant Apple (AAPL 9.99%) had blasted over 11% higher, as of 1:55 p.m. ET today, after President Donald Trump announced a 90-day pause on higher tariff rates for most countries and a universal 10% tariff base during the pause, citing progress on negotiations, according to CNBC.
Personal computer shipments rose 9% in the first quarter from a year ago, according to research firm Canalys Many companies sped up deliveries to prepare for incoming tariffs that could put pressure on a recovering PC and electronics market.