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Apple Production Hit By Tariffs, Phillip Morris Rises, RH Misses | Stock Movers
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April 3, 2025
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6:50Now PlayingOn this episode of Stock Movers:
- Apple (APPL) shares fell as the iPhone maker is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a years long effort to insulate the iPhone maker from trade wars and supply chain disruptions. A long list of levies unveiled by the White House are poised to hit the company especially hard, triggering its worst stock rout in five years. The new tariffs will reach 34% for China. That would bring the total rate on Chinese goods to 54%, threatening to roil an Apple supply chain that still has the Asian country at its heart.
- Phillip Morris (PM) stock hit a record high as investors look for places to hide after President Donald Trump’s new wave of tariffs sent global markets lower.
- RH (RH) shares tumbled on Thursday after the luxury home furnishing company’s annual revenue growth forecast trailed Wall Street expectations. Its fourth-quarter sales and profit also missed the average estimates. Analysts note that new round of tariffs add “significantly more uncertainty,” with BofA and Citi downgrading the stock.
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Apple Production Hit By Tariffs, Phillip Morris Rises, RH Misses
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