The recent tariff announcements by Donald Trump, which include a 10% baseline tax on all imports, surprised tech executives who had sought his favor. Apple's stock plummeted over 9%, losing more than $300 billion in market value, as the company is heavily reliant on Chinese manufacturing. Other tech firms like Meta also saw declines in their stock values. Analysts like Dan Ives have warned that these tariffs could dramatically increase Apple's price points, drastically affecting future sales and share prices.
As of midday Thursday, Apple's stock price was down more than 9%, knocking over $300 billion off its market cap and paring down the net worths of Cook and every stock-paid Apple employee.
Dan Ives, a well-known tech investment analyst, wrote that Apple is in the 'eye of the tariff storm' - a 'Category 5 hurricane.'
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