Although Apple’s stock price has plummeted due to the possibility of hefty additional tariffs from US President Donald Trump’s administration, there has been a short-term benefit: buyers are flocking to retail stores to purchase iPhones.

Apple Stores Packed Amid Tariff Fears

Workers at various Apple stores in the US said that their stores were packed over the weekend, with customers voicing worries that prices will sharply increase once the levies are implemented. The majority of Apple’s most popular and significant product, the iPhone, is made in China, where it is subject to 54% tariffs.

Employees reported that the atmosphere was similar to the hectic holiday season, even if retailers did not necessarily experience the kind of lines that accompany an iPhone launch. One claimed, “People are just rushing in worried and asking questions,” and that the firm hasn’t given stores any instructions on how to respond to these kinds of questions. Related to this article, the price of Apple products could skyrocket after the Trump announcement of 54% reciprocal tariffs on US imports from China.

Customers Anticipate iPhone Price Hikes

On Monday afternoon, Apple’s flagship shop on Fifth Avenue in New York was bustling. Buenos Aires native Ambar De Elia was already preparing to purchase an iPhone 15 for her younger sister when she was in New York. However, she believed that this was the ideal moment to indulge after seeing the Wall Street headlines when she got up this morning.

Apple May Absorb Tariff Costs to Stabilize Prices

In an attempt to predict how a 54% tariff on China might affect costs, analysts and industry observers have been speculating that iPhones may soon cost thousands of dollars each.

According to a Bloomberg report, Apple is actually expected to take a variety of actions to prevent prices from skyrocketing, such as exerting pressure on its suppliers and accepting reduced profits. Since 2017, the starting price of Apple’s most recent flagship iPhone has stayed at US$999.

The spike might support Apple’s third-quarter earnings, which are due in June. The effects of tariffs are probably not going to be realized until the next quarter because the enterprise is selling the goods that it has already collected.