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Apple leads decline in tech stocks after Trump announces sweeping new tariffs [Yahoo! Finance]
Last apple inc. earnings: 4/30 04:30 pm
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US:NASDAQ Investor Relations: investor.apple.com
Tech stocks took a beating after President Trump announced sweeping global tariffs ranging from 10% to 49% on both “ friend and foe .” The wave of tariffs sent global markets plunging, with U.S. companies reliant on Asian supply chains hit particularly hard. The tariffs include a 10% blanket rate on all imports, with higher duties for China (34%), Europe (20%), and Japan (24%). Trump has framed the move as an effort to boost U.S. industry and bring manufacturing jobs back home. Apple shares, which are heavily exposed to additional tariffs on China, fell 5.7% in aftermarket in response to the news. Fellow tech giants Alphabet Amazon , and Meta all dropped between 2.5% and 5%. Microsoft was down by almost 2% while Nvidia sunk by around 5.2%. Wedbush's Dan Ives called Trump's tariffs "illogical and absurd" and a "white knuckle moment" for the tech industry. "Tech stocks will clearly be under major pressure on this announcement as the worries about demand destruction, supply chai
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