Apple shares fell nearly 4% on Thursday, sending the iPhone maker's market capitalization below $3 trillion again as tariffs continued to weigh on the company, despite what some analysts called a "temporary recovery" earlier in the week.
Apple shares surged to start the week, leading the "Magnificent Seven" large-cap tech stocks higher, as investors cheered the Trump administration's announcement of temporary tariff exemptions for tech products late last week.
The surge earlier this week temporarily pushed Apple’s value back above the $3 trillion mark. The company’s market cap had fallen to its lowest level in nearly a year, just under $2.6 trillion, last week.
Currently, Apple is still the most valuable company in the world , ahead of Microsoft.
U.S. Customs and Border Protection issued regulations late on April 11 that exempt consumer electronics, including nearly all Apple products, from retaliatory tariffs.
Previously, on April 2, President Trump announced global reciprocal tariffs scheduled to take effect on April 9. However, on April 9, he announced a 90-day pause on plans to impose reciprocal tariffs on trading partners, excluding China.
The move has been well received by Apple investors, as about 90% of Apple's iPhones are manufactured in China.
Between April 2 and 8, Apple lost more than $770 billion in market capitalization.
Apple's decline came after Nvidia revealed that the Trump administration banned exports of its H20 chip to China.
These developments show that there are "diverse opinions within Mr. Trump's team on tariffs, the strategy against China and US technology restrictions," according to Jefferies analyst Edison Lee.
The concern for Apple is that it will become increasingly difficult for the company to avoid being caught in the crossfire between the US and China as tariffs and restrictions are imposed, DA Davidson analyst Gil Luria told Yahoo Finance. The export restrictions on chips from NVIDIA represent an escalation in the trade dispute.
Tech stocks fell across the board on Wednesday, with the Nasdaq down 3%. Other “Magnificent Seven” stocks like Meta and Microsoft were also in the red, down nearly 4%, while Nvidia plunged nearly 7%.
President Trump also set the stage for tariffs on semiconductors this week.
The U.S. Commerce Department opened an investigation into computer chips on April 15 under Section 232 of the Trade Expansion Act of 1962, which allows the president to impose tariffs on imports for national security reasons.
Mr. Trump also said that most electronics would still eventually be subject to tariffs, which could hurt Apple./.
Source: https://www.vietnamplus.vn/apple-market-capital-falls-to-under-3000-ty-usd-post1033357.vnp
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