Apple Shoppers Rush In As Trump Tariff Threat Looms Over China-Made iPhones. Tech Giant Faces Worst 3-Day Stock Drop Since 2001.

Benzinga

Apple saw a surge in retail sales as customers hurried to buy iPhones before potential price hikes from Trump administration tariffs, according to Bloomberg. Multiple employees across U.S. stores described the atmosphere as akin to a holiday shopping season. Most iPhones are made in China, which is facing a 54% tariff. Apple’s valuation plunged by over half a trillion during a three-day stock rout, its worst since 2001. The company has ramped production in India and Vietnam to mitigate tariff exposure.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Apple saw a surge in retail sales as customers hurrying to buy iPhones

00:06for potential price hikes from Trump administration tariffs.

00:09That according to Bloomberg.

00:10Multiple employees across U.S. stores describe the atmosphere

00:13as akin to a holiday shopping season.

00:16Most iPhones are made in China, which is facing a 54% tariff.

00:19Apple's valuation plunged by over half a trillion during a three-day stock round.

00:24It's worse since 2001.

00:25The company has wrapped up production in India and Vietnam to mitigate tariff exposure.

00:30For all things money, visit Benzinga.com slash GSTV.

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