Loses nearly $300 billion

Apple loses nearly $300 billion in market value in a tariff-induced rout

From CNN's Clare Duffy

Apple shares tumbled nearly 9% Thursday morning, following tech stocks and wider markets lower in the wake of President Donald Trump’s massive tariff announcements on Wednesday.

Many tech giants, including the iPhone maker, produce gadgets abroad in places like China, Vietnam and India, and could take a significant hit from tariffs when importing those goods for US consumers.

Around 90 minutes after the market opened on Thursday, Apple stock was down 9%, Microsoft stock was down 3%, Meta stock was down 8%, Amazon stock was down 9%, Google stock was down 4% and Tesla stock was down 7%.

If Apple’s stock price ends Thursday at the same level, it will mark its largest one-day decline since March 12, 2020, when businesses across the globe shut down because of the pandemic. Thursday’s share price decline shaved more than $293 billion off Apple’s market value compared to Wednesday’s close. The company’s valuation is down $800 billion from its all-time high.

Apple, which had been struggling with sluggish iPhone sales in recent years, could feel the pain from tariffs even more than its fellow tech giants.

“No doubt that if the tariffs stick, it will have a negative impact on (Apple’s) fundamentals, with downside to margin and earnings expectations,” CFRA Research Analyst Angelo Zino said in emailed commentary Thursday.

Zino added that Apple is likely to handle tariffs by attempting to increase supply chain efficiencies, eating some of the cost itself and raising costs for customers. But the company “will have a tough time passing through more than 5%-10% of the costs to consumers … and any major increase could have a detrimental impact to revenue,” he said.