Apple Stock (AAPL) Pops as Trump Vows 100% Tariff Relief for US Makers
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For context, Apple recently pledged $100 billion in new U.S. investments, bringing its total planned spending to $600 billion over the next four years. As part of this plan, the company is partnering with major suppliers to produce components for its devices domestically.
Trump's Tariff-Free Promise
Yesterday, Trump announced a sweeping tariff policy that spares U.S.-based manufacturers from hefty import duties on chips and semiconductors. Speaking at the White House, Trump vowed that companies like Apple, which produce or commit to producing in the U.S., would receive 100% tariff relief.
This move is seen as a significant boost for domestic tech production and a win for Apple's supply chain strategy.
Consequently, chipmakers saw gains, with Nvidia (NVDA) up 0.8%, Micron (MU) rising nearly 3%, and TSMC (TSM) jumping 5%.
Apple Could Gain Edge in Tariff War
Apple's new investment underscores its focus on boosting domestic growth and innovation. The company will still face other tariffs, such as those on shipping finished iPhones from India. However, the chip exemption is a positive development for Apple investors.
Notably, Bank of America's top-rated analyst, Wamsi Mohan, said Apple could gain U.S. smartphone market share if rivals face tariffs while iPhones stay exempt. Recently, Mohan raised his price target on AAPL stock from $240 to $250 while keeping a Buy rating.
Likewise, Wedbush's Dan Ives believes the move could also help Apple get back on 'Trump's good side' after months of tense relations.
Is Apple Stock Expected to Go Up?
On TipRanks, AAPL stock has a consensus Moderate Buy rating among 27 Wall Street analysts. That rating is based on 14 Buys, 12 Holds, and one Sell assigned in the last three months. The average AAPL price target of $233.33 implies a 6% upside from current levels.
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