Egypt Daily News – Apple has lost more than 250 billion dollars in market value, with its shares dropping by as much as 8.5% due to the tariffs imposed by President Donald Trump.
The iPhone maker took one of the biggest hits on Wall Street, with technology stocks falling as investors shifted their money away from volatile assets.
Shares of Tesla, Nvidia, and Meta dropped by 6%, while Amazon’s shares fell by 7.2%. Trump also revealed comprehensive tariffs of at least 10% on all products, with higher rates for some countries — with the total tariff rate on China rising to 54% — which will take effect on April 5.
Wedbush Securities analysts stated that the tariffs are “worse than the worst-case scenarios” for tech investors.
The White House insists that the tariffs are not a negotiating tactic, but a necessity to boost domestic manufacturing, with the president describing them as a step to “free” the U.S. economy.
The massive tariffs imposed by Trump on imported goods to the United States affect all of Apple’s major suppliers and manufacturing centers in Asia, from China to Taiwan, from India to Vietnam. Despite efforts by CEO Tim Cook to win the administration’s favor, this means that all iPhone, iPad, Mac models, and accessories sold by Apple will be impacted.
Cook will have to decide whether to increase costs for consumers or absorb the losses, which could result in the loss of tens of billions in potential profits.
