Apple stock drops almost 10% on market open in reaction to new tariffs

Apple is a US-based company that relies heavily on a global supply chain to manufacture its products. As a result, the tech firm’s stock seems to be getting hit especially hard by the new tariffs just announced yesterday, with AAPL down almost 10% upon the market’s open today—a big hit to Apple. AAPL stock is down significantly as tariff fears loom Apple has grown revenue from its services business consistently for years, but at its core, the company is still very much financially dependent on hardware. The iPhone, iPad, Mac, Apple Watch, AirPods, and the company’s other highly successful products are designed by Apple in California, but by and large manufactured overseas. Now, with President Trump’s sweeping tariffs on imports worldwide, Apple’s core business could take a huge hit. The tariffs are especially high in places where Apple keeps much of its supply chain, including China, India, Vietnam, and more. Last night in after-market trading, Apple’s stock fell 7%. As my collea ... Read full article.