Apple Loses $250B Market Value Amid Tech Stock Selloff Due to Tariffs
Apple Inc. experienced a significant financial setback, losing $250 billion in market value, as part of a broader tech stock selloff triggered by new tariffs. The selloff was sparked by the announcement of increased tariffs on tech products, affecting not only Apple but the entire tech sector. The impact was immediate, with Apple's stock prices plummeting, reflecting investor concerns over the potential rise in iPhone prices due to these tariffs.
The tariffs, part of ongoing trade tensions, have led to a ripple effect across the U.S. economy, with tech and retail stocks leading the decline. Analysts are concerned that the increased costs could be passed onto consumers, potentially affecting demand for tech products like the iPhone. This situation has raised questions about the future of tech pricing and the broader implications for the U.S. economy.
The market's reaction underscores the sensitivity of tech stocks to trade policy changes and highlights the interconnectedness of global trade and domestic markets. As the situation develops, investors and consumers alike will be watching closely to see how companies like Apple navigate these challenging economic waters.
Detailed
Related issues news
Will there be tariffs on iPhones?
U.S. President Donald Trump imposed a series of sweeping tariffs on countries around the world that could drastically alter the landscape of global trade, and consumer goods like iPhones could be among the hardest hit, analysts said on Thursday, with increases of 30% to 40% if the company were to pass on the cost to ...
Is Apple affected by tariffs?
Now, Apple is leading the decline among technology stocks on Thursday after the company's secondary production locations were all included in the round of tariffs announced by Trump on Wednesday. The company's shares fell over 9% on Thursday versus a 6% decline for the Nasdaq.
Is Apple exempt from tariffs?
In 2019, Apple was granted a series of waivers to avoid a 15% tariff on its flagship products including the iPhone, iPad, and MacBook range in 2019. There is no indication, so far, that it has received a similar exemption from the latest tariffs.
How are tariffs collected?
Tariffs are taxes on imports, collected when foreign goods cross the U.S. border by the Customs and Border Protection agency. The money — about $80 billion last year — goes to the U.S. Treasury to help pay the federal government's expenses. Congress has authority to say how the money will be spent.
Latest
Can you Like
