Apple shares rose over 2% on Monday, lifting the company’s market value back above $3 trillion, as investors breathed a sigh of relief over the latest White House tariff update. The rally came after President Trump’s administration exempted phones, computers, and chips from a new round of trade duties late Friday.
Wall Street sees breathing room—for now
Apple is among the most exposed U.S. companies when it comes to tariffs, given that most of its iPhones, iPads, and MacBooks are assembled in China and across Asia. Analysts say these temporary exemptions could save Apple billions, at least in the short term. But the relief might not last—Trump officials have made it clear the policy could shift again in the coming weeks.
Trump highlights relationship with Apple CEO
“I speak to Tim Cook. I helped Tim Cook, recently, and that whole business,” Trump told reporters Monday, referencing the Apple CEO. While Apple’s stock reaction was modest, the president’s comments reinforced hopes that Apple may continue to receive favorable treatment in future tariff decisions.
Tariff costs drop, but uncertainty remains
Despite the rebound, Apple stock is still down about 9% for April and 11% in Q1, marking its worst quarter since 2023. But with the latest changes, analysts at Morgan Stanley estimate Apple’s annualized tariff burden has dropped from $44 billion to $7 billion. That’s a huge shift—though investors are staying cautious as trade policy remains unpredictable.
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