Source: Global Market Express
On Wednesday, after U.S. President Donald Trump announced a 90-day suspension of "reciprocal tariffs" on certain countries, Apple's stock price surged by 15%. This tariff would have affected the company's production bases in Vietnam, India, and Thailand.
This rebound increased Apple's market value by over $400 billion, nearing $3 trillion. It was Apple's best day since January 1998. In January 1998, the late founder Steve Jobs served as interim CEO, and three years later, Apple released its first iPod. At that time, Apple's market value was close to $3 billion.
Apple is one of the most famous companies affected by Trump's tariffs. Before Wednesday, the index had experienced its worst four days of trading since 2000. Investors were concerned about Apple's future prospects because much of the company's revenue still came from selling physical devices that need to be imported into the United States.
On Wednesday, the U.S. reduced the tariff on Vietnam from 46% to 10%, and the tariff on India from 26% to 10%.
After Trump announced the suspension of tariffs, the stock market soared across the board on Wednesday. The Nasdaq Composite Index rose more than 12%, marking its second-best trading day ever.
Apple has not made any public comments on Trump's tariffs, but CEO Tim Cook may address this topic at the earnings call on May 1st.
Original Source: https://www.toutiao.com/article/7491428904184316453/
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