Apple lost a whopping $300 billion in market value in intraday trading Thursday as fears that President Trump's reciprocal tariffs will hammer supply chains sparked a market bloodbath.
The company counts on the sale of devices for three-quarters of its nearly $400 billion in annual revenue, and it makes almost all of its iPhones, iPads and Macs overseas.
Apple Inc (NASDAQ:AAPL) was last seen down 8.9% at $203.94, leading Big Tech losses after President Donald Trump announced sweeping tariffs.
Wedbush analysts strongly criticized President Donald Trump's proposed tariffs, calling them "jaw-dropping" and "absurd." They argued that the White House's tariff chart was factually incorrect and misrepresented trade data.
Technology stocks sold off Thursday after President Donald Trump announced a slew of global tariffs and a baseline 10% duty. Apple led the declines among the so-called "Magnificent Seven" group, dropping more than 8%.
Yesterday, President Donald Trump announced a slew of tariffs on nearly every country in the world—over 180 of them, notes CNBC. The tariffs Trump announced are higher than most economists and business leaders feared.
Stocks nosedived across the board Thursday as Wall Street largely panned the highly aggressive tariffs announced by President Donald Trump, sending major indexes toward what could be their worst daily losses in years, and several prominent names were hit particularly hard by the latest tariff developments.
Apple Inc (NASDAQ:AAPL, ETR:APC) shares dropped 7.5% in premarket trading on Thursday as investors reacted to concerns over new US tariffs on Chinese imports. Analysts at Jefferies warn of a potential hit to the company's profits if exemptions are not granted.
Apple Inc. is finding itself squarely in the crosshairs of President Donald Trump's new tariffs, even after a years-long effort to insulate the iPhone maker from trade wars and supply chain disruptions.
Donald Trump's tariffs are about to hit Apple hard. Tariffs are set to hit Apple's key manufacturing hubs, including China, Vietnam, Thailand, and others.
U.S. stock futures were lower this morning, with the Dow futures falling more than 1,000 points on Thursday.
Heavy exposure to exposure to tariffs on Chinese-made goods is weighing on the shares.