Apple’s three-day fall in market capitalization reaches around $640 billion
While the stock market performed better on Monday than it had the previous two trading days, Apple fell 3.7% as concerns grew that the business would suffer significantly from President Donald Trump’s tariffs.
The sell-off brings Apple’s three-day drop to 19%, wiping away $638 billion in market capitalization.
Analysts believe Apple is one of the most vulnerable firms to a trade war, owing partly to its reliance on China, which is facing 54% tariffs. Although Apple manufactures in India, Vietnam, and Thailand, those nations are also facing higher tariffs as part of Trump’s comprehensive plan.
Apple is having the most difficult time of all of the tech megacaps. Apple, Microsoft, and Tesla were the only three of the seven equities that fell on Monday.
The Nasdaq finished practically flat on Monday after dropping 10% last week, its worst performance in more than five years.
According to analysts, when the new tariffs go into effect, Apple would most likely have to hike pricing or bear additional costs. On Monday, UBS analysts predicted that Apple’s highest-end iPhone would increase in price by around $350, or 30%, from its current price of $1,199.
