Apple plummets on Trump tariffs
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It is also a blow to Cook, who has spent years trying to build a tight-knit relationship with Trump.
From Insider
Apple shares fell 7% in Frankfurt after U.S. President Donald Trump announced sweeping tariffs on trading partners including China where the U.S. group has a big manufacturing base.
From Reuters
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At a February event, Amazon announced Alexa+, a more conversational, generative-AI version of its famous assistant. During onstage demos, Alexa+ handled a complicated Uber order, answered questions about a user’s email and calendars—and even sifted through hours of Ring camera footage to find a cute dog.
Shares of Apple, on track for their worst day since March 2020, cratered over 8% in afternoon trade as the stock erased $300 billion from its market cap. The largest risk, according to analysts, centers on the iPhone maker's overseas production hubs, which are particularly vulnerable to the tariffed countries.
For perspective, the tariffs could wipe out 9 per cent of Apple’s gross margin – unless the added costs are passed through or an exemption is granted, analysts found.
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.
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Despite Apple's minor rebound from recent lows, the stock is still down over 10% for the year. Find out 3 reasons to avoid AAPL.
Shares of Dell Technologies Inc., Apple Inc., Sonos Inc. and HP Inc. plunged Thursday after President Donald Trump announced sweeping tariffs on imports from virtually every US trading partner, a move that threatens to increase costs,