Apple's 3-day loss in market cap swells to almost $640 billion

(L-R) Apple CEO Tim Cook, Vivek Ramaswamy and Secretary of Homeland Security Kristi Noem attend the inauguration ceremony before Donald Trump is sworn in as the 47th U.S. President in the U.S. Capitol Rotunda in Washington, D.C., on Jan. 20, 2025. While the stock market broadly fared better on Monday than in the prior two trading days, Apple got hammered once again, losing 3.7%, as concerns mounted that the company will take a major hit from President Donald Trump's tariffs. The sell-off brings Apple's three-day rout to 19%, a downdraft that has wiped out $638 billion in market cap. Apple is one of the most exposed companies to a trade war, analyst say, due largely to its reliance on China, which is facing 54% tariffs. Although Apple has production in India, Vietnam and Thailand, those countries also face increased tariffs as part of Trump's sweeping plan. Among tech's megacap companies, Apple is having the roughest stretch. On Monday, the only stocks to drop in that group of seven ... Read full article.