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Apple stock soars on news of US-China tariff deal
Apple stock soared almost 6% at market open today, following the announcement of an easement of US tariffs on China....
Tariffs on Chinese production hurt Apple’s bottom line, as they directly affect the cost of making the iPhone, which accounts for more than half of the company’s revenue. Wall Street Journal reporting this morning suggested Apple was weighing price rises across the iPhone 17 lineup, in part to offset the tariff impacts. Apple’s valuation is naturally more closely tied to tariff policy than its other big tech rivals, which are more reliant on software and services.
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