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Fortune

Marco Quiroz-Gutierrez

Trump's trade war has taken a $700 billion bite out of Apple as people wake up to the reality of how expensive an iPhone will be under the new tariffs

Apple Donald Trump China Wedbush Securities United States Wedbush Tim Cook

(Credit: Mandel Ngan—AFP via Getty Images)

Apple’s market cap has plummeted by $700 billion as its stock takes a beating in the aftermath of Trump’s “liberation day” tariffs. The company is uniquely exposed to Trump’s tariffs on China, as it produces most of its moneymaker iPhones in the country. If CEO Tim Cook can’t secure tariff exemptions for the company, as he did during the first Trump administration, the blow could be “a complete disaster,” according to Wedbush Securities analysts.

Apple’s market cap has collapsed by $700 billion in the days following Trump’s “liberation day” as investors realized just how much new tariffs will hit the tech giant’s biggest moneymaker.

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