From iPhone to iPad, from stopwatch to headset, Apple products are a daily necessity for millions of users worldwide. The company is not only an emblem of tech trends but also drives the global economy. Based in the USA, Apple’s supply chain spans 50 countries with its largest share in Southeast Asia including China, Taiwan, and India. By selling its products like hotcakes, the company achieved a $3 trillion market cap in 2022. However with such big business comes big shocks, big falls, and big tariffs. 

Apple After Trump’s Liberation Day Tariffs

Ironically, the Liberation Day tariffs by Donald Trump hit Apple stocks fatally, dropping the shares to 19% after three consecutive days of sell-off, erasing more than $637 billion in market value. Meanwhile, Apple stores swarmed with iPhone buyers depicting its global consumer demand.  

As soon as Trump gave a 90-day pause and exempted tariffs on smartphones, computers, and 20 Information and Communication Technology (ICT) category products, Apple regained its market worth of $3 trillion. Although the tech giant achieved temporary stability, the stock market bulls anticipate its future if the US-China trade war escalates. Meanwhile, Apple enthusiasts are worried about the next Apple launch, considering its high price if tariffs are sustained. 

Apple Stocks in the Trump Era 

As soon as Trump held US presidential office for the second time, Wall Street geared up for a roller coaster ride. Stock investors, aware of Trump’s nationalist election campaign started investing with doubts and panic. Trump’s announcement to impose tariffs on Liberation Day further added to stock market uncertainty. 

In January 2019, Apple’s stock declined 38% to $36 per share due to Trump’s trade war with China. In his first term, Trump raised the average tax on Chinese imports from 3% to 21% in 2020. Although Apple succeeded in receiving an exemption from tariffs, this percentage brought back uncertainty to the stock market, with speculations that this time Trump will strike harder. After Trump’s exemptions, Apple regained its stock market position, however, the volatility will persist with his every move. 

Apple’s Expected Sale and Revenue After Trump Tariffs

With a current market cap of $3 trillion, Apple is expected to announce its fiscal second-quarter earnings for 2025 on 1st May. Analysts expect to report a profit of $1.60 per share on a diluted basis, considering that the company has consistently surpassed Wall Street’s EPS estimate in the past 4 quarters. However, with Trump’s tariffs, Apple experienced high sales during April due to the fear of increased product rates. This factor seems to be shaping the revenue of Apple in the coming months. 

What if Trump Continues his Tariffs Policy?

Although Trump sighed relief to tech giants and stock investors by giving exemptions to hot-selling products including the iPhone, the threat of more tariffs could not be neglected in the Trump era. Trump’s America First policy will continue to haunt tech companies unless the global supply chain is relocated to America, which is not possible considering the geo-strategic importance of different regions in developing these products.

The tech industry requires skilled labor, geological resources, consumer traffic, and huge capital. In the contemporary world, all are deeply embedded and diffused. It took American tech companies decades to set their infrastructure and model to develop a tech ecosystem. Trump’s Made in America is a nationalist policy, ideal for political campaigns but not practical in the current scenario. Companies like Apple which has one of the largest supply chains cannot comply with his political agenda. Therefore, if Trump continues his heavy tariff policy and halts current exemptions, the tech companies will suffer, this time worse than before leading to layoffs, unemployment, inflation, and a decline in tech innovation.