(L-R) Apple CEO Tim Cook, Vivek Ramaswamy and Secretary of Homeland Security Kristi Noem attend the inauguration ceremony before Donald Trump is sworn in because the forty seventh U.S. President within the U.S. Capitol Rotunda in Washington, D.C., on Jan. 20, 2025.
Saul Loeb | Afp | Getty Images
While the stock market broadly fared higher on Monday than within the prior two trading days, Apple got hammered once more, losing 3.7%, as concerns mounted that the corporate will take a significant hit from President Donald Trump’s tariffs.
The sell-off brings Apple’s three-day rout to 19%, a downdraft that has worn out $638 billion in market cap.
Apple is one of the exposed corporations to a trade war, analyst say, due largely to its reliance on China, which is facing 54% tariffs. Although Apple has production in India, Vietnam and Thailand, those countries also face increased tariffs as a part of Trump’s sweeping plan.
Amongst tech’s megacap corporations, Apple is having the roughest stretch. On Monday, the one stocks to drop in that group of seven were Apple, Microsoft and Tesla.
The Nasdaq finished almost barely up on Monday after plummeting 10% last week, its worst performance in greater than five years.
Analysts say Apple will likely either need to boost prices or eat additional tariff costs when the brand new duties come into effect. UBS analysts estimated on Monday that Apple’s highest-end iPhone could rise in price by about $350, or around 30%, from its current price of $1,199.
Barclays analyst Tim Long wrote that he expects Apple to boost prices, or the corporate could suffer as much as a 15% cut to earnings per share. Apple can also have the option to rearrange its supply chain in order that imports to the U.S. come from other countries with lower tariffs.
Apple declined to comment on the tariffs.
WATCH: Apple plummets on Trump tariffs
