Particle.news
Download on the App Store
4 ARTICLES
·
2w ago

Apple Stock Rebounds as U.S. Grants Temporary Tariff Exemptions on Smartphones

The White House's tariff relief has eased cost pressures for Apple, boosting investor confidence, though uncertainty lingers over the policy's temporary nature.

A person is silhouetted against a logo sign of the Apple Store in the Grand Central Terminal in the Manhattan borough of New York City, New York, U.S., January 4, 2022. REUTERS/Carlo Allegri/File Photo
Image
Image

Overview

  • Apple's stock surged 3.5% to $208.05 on Monday, recovering significant losses from earlier tariff-related declines.
  • The U.S. government announced exemptions on smartphone tariffs last Friday, reducing Apple's projected tariff impact from 29% to 5%.
  • KeyBanc upgraded Apple’s stock rating to 'Sector Weight,' reversing its previous bearish outlook following the tariff relief.
  • The tariff exemption offers Apple a reprieve from cost increases, enabling the company to avoid immediate iPhone price hikes.
  • Uncertainty remains as Commerce Secretary Howard Lutnick confirmed the exemptions are temporary, leaving the door open for potential policy reversals.