Apple leads a drop in tech stocks after Trump tariff announcement

Apple CEO Tim Cook, center, watches during the inauguration ceremonies for President Donald Trump, right, and Vice President JD Vance, left, in the rotunda of the U.S. Capitol in Washington, Jan. 20, 2025. Apple slid more than 6% in late trading Wednesday and led a broader decline in tech stocks after President Donald Trump announced new tariffs of between 10% and 49% on imported goods. The majority of Apple's revenue comes from devices manufactured primarily in China and a handful of other Asian countries. Nvidia , which manufactures new chips in Taiwan and assembles its artificial intelligence systems in Mexico and elsewhere, fell about 4%, while electric vehicle company Tesla dropped 4.5%. Across the rest of the megacap universe, Alphabet , Amazon and Meta all dropped between 2.5% and 5%, and Microsoft was down by almost 2%. If Apple's postmarket loss is matched in regular trading Thursday, it would be the steepest decline for the stock since September 2020. Trump on Wednesday ... Read full article.