Apple shares fell over 3% on Monday after President Donald Trump announced new 10% tariffs on Chinese imports, where the company assembles most of its products. The decline was the sharpest among tech megacaps aside from Tesla. Apple’s tariff profit impact depends on how much U.S. demand it can meet with production outside China. If 80% of U.S.-bound devices come from other countries, earnings may drop by 5 cents per share, but if half still come from China, the decline could be 12 cents. Apple reported revenue growth last quarter but warned of slower growth ahead, with sales declining in key Asian markets.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Apple shares fell over 3% on Monday after President Donald Trump announced
00:06new 10% tariffs on Chinese imports, where the company assembles most of its products.
00:11Decline was the sharpest among tech mega caps aside from Tesla. Apple's profit impacted from
00:16tariffs depends on how much U.S. demand it can meet with production outside of China.
00:21If 80% of U.S.-bound devices come from other countries, earnings may drop by 5% per share,
00:26but if half still comes from China, the decline could be 12 cents.
00:30Apple reported revenue growth last quarter,
00:31but warned of slower growth ahead, with sales declining in key Asian markets.