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Apple’s (AAPL) stock performance this year hasn’t been worth noticing. For much of the year, the iPhone maker lagged behind the broader market, weighed down by trade disputes and tariff-related uncertainties. Year-to-date, AAPL shares are still down roughly 7%, while the S&P 500 Index ($SPX) has climbed about 9.7%. However, the stock is gaining momentum. Apple has risen more than 9% in the last five trading days.
The turnaround has been driven by two key developments. First, Apple delivered a solid third-quarter performance, showing resilience and the capacity to generate growth even in a challenging environment. Second, the company expanded its U.S. investment and announced a new American manufacturing program, a move widely interpreted as a step to ease tariff concerns. By boosting its U.S.-based production, Apple is addressing tariff risks and aligning itself more closely with domestic policy priorities. This is particularly important given President Donald Trump’s past criticism of Apple’s reliance on overseas manufacturing.
