Apple shares plunge by $293B amid new US tariffs

Shafaq News/On Thursday, Apple’s stock fell by more than $293 billion, a nearly 9% drop, as technology stocks and markets took a hit following US President Donald Trump's announcement of new tariffs.

Many tech giants, including Apple, which manufactures its iPhones abroad in countries like China, Vietnam, and India, could be heavily impacted by these tariffs when importing goods to US consumers.

About 90 minutes after the market opened on Thursday, Apple’s stock dropped 9%, while Microsoft fell by 3%, Meta by 8%, Amazon by 9%, Google by 4%, and Tesla by 7%.

This decline represents Apple’s largest one-day decline since March 12, 2020, when businesses around the world closed due to the COVID-19 pandemic.

The drop in stock price on Thursday reduced Apple’s market value by over $293 billion compared to Wednesday’s close.

The company’s valuation is now $800 billion lower than its all-time high. Apple, which has faced slowing iPhone sales in recent years, is likely to be more affected by the tariffs than other tech giants.

Angelo Zino, an analyst at CFRA Financial Consulting, said, "There’s no doubt that continued tariffs will negatively impact Apple’s fundamentals, with a decline in profit margins and earnings outlook."

Zino added that Apple will likely address the tariffs by attempting to improve supply chain efficiency, cut some costs, and raise prices for consumers.

However, he noted that "it will be difficult for the company to pass more than 5% to 10% of the costs onto consumers… any significant increase may negatively impact revenues."