Apple and other tech stocks rebound after Trump offers more tariffs guidance

Stock prices of Apple, Alphabet and different Silicon Valley tech companies rebounded connected Monday aft the Trump medication said electronics, including semiconductors and smartphones, were exempt from the “reciprocal tariffs” announced earlier this month.

But the bounce whitethorn not last. Tech giants could inactive look drastic changes to however they negociate their proviso concatenation and costs.

Secretary of Commerce Howard Lutnick told ABC News connected Sunday those physics products are going to beryllium portion of tariffs affecting the semiconductor assemblage “which are coming,” perchance successful a period oregon two.

Apple banal roseate 2% to $202.52 a stock connected Monday, a boost from the stock’s crisp diminution aft Trump announced reciprocal tariffs earlier this month. Google genitor institution Alphabet and spot shaper AMD besides got a reprieve, with their banal prices rising 1% connected Monday.

Apple banal plummeted aft Trump announced other tariffs connected China, Vietnam and India connected April 2. Trump has since paused further tariffs connected astir countries, but has raised duties connected Chinese imports to 145%.

“We request to person these things made successful America, we can’t beryllium reliant connected Southeast Asia for each of the things that run for us,” Lutnick told ABC, adding that the extremity is for the companies to bring much of their manufacturing backmost to the United States.

The escalating struggle has disquieted investors due to the fact that Apple and different tech companies nutrient galore products successful China. Though it has shifted much accumulation to India successful caller years, Apple inactive makes astir of its iPhones successful mainland China.

Amid much unit from the White House, Apple and Nvidia person announced plans to bring much jobs to the U.S.

Nvidia connected Monday said it is moving with its partners to physique and trial Nvidia Blackwell chips successful Arizona and AI supercomputers successful Texas, with accumulation ramping up successful the adjacent 12 to 15 months.

“Adding American manufacturing helps america amended conscionable the unthinkable and increasing request for AI chips and supercomputers, strengthens our proviso chain, and boosts our resiliency,” said Nvidia CEO Jensen Huang successful a statement.

Nvidia’s banal terms closed astatine $110.71 connected Monday, virtually unchanged.

Apple successful February said it would put $500 cardinal successful the U.S. that would spell toward assorted efforts, including opening a manufacturing installation successful Houston.

Still, analysts accidental it volition beryllium hard to bring manufacturing jobs backmost to the U.S. and rebuilding proviso chains could instrumentality years.

“Overall, we presumption the dizzying play tariff quality arsenic a measurement guardant nett affirmative for Apple arsenic good arsenic different tech names,” wrote Daniel Ives, a managing manager astatine Wedbush Securities.