Apple regains $3 trillion market cap after Trump exempts tariffs on iPhones

Apple CEO Tim Cook greets former President Barack Obama at the inauguration of U.S. President Donald Trump at the U.S. Capitol Rotunda in Washington, D.C., on Jan. 20, 2025. Apple shares rose more than 2% on Monday, pushing the company's market cap back above $3 trillion, as Wall Street expressed some level of relief that the iPhone maker will be able to withstand President Donald Trump's widespread tariffs. Late Friday, the Trump administration announced that phones, computers and chips were exempted from new tariffs. Apple is among the most exposed companies to Trump's tariffs because the majority of its iPhones, iPads and MacBooks are manufactured in China and other Asian countries. Trump has called for Apple to make its products in the U.S. Most of Apple's critical imports were exempted from the tariffs, a move that Wall Street analysts said could save Apple billions in costs. However, administration officials warned over the weekend that the exemptions were temporary and could ... Read full article.