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Stock Movers: Trump Tariffs Hit Apple's Supply Chain; Tesla and Nvidia Sink on Chip Concerns
Posted
April 3, 2025
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3:13Now PlayingGet more equity coverage like this on the Stock Movers podcast from Bloomberg, featuring five-minute episodes on the winners and losers in the stock market.
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On this episode of Stock Movers:
• Apple (AAPL) stock is slumping after investors learned President Donald Trump's tariffs will impact the company's supply chain and manufacturing centers in China, India, Vietnam, Malaysia, Thailand, and Ireland. The new tariffs will likely squeeze Apple's margins and may lead to price hikes, which could be challenging given shaky consumer sentiment.
• Nvidia (NVDA) is down with other chipmakers in response to President Trump's tariffs and after HSBC downgraded the tech giant from buy to hold.
• Tesla (TSLA) shares are down following Wednesday's US tariff announcement and in conjunction with the continued decline among global semiconductor manufacturers. Electric vehicles require a lot of chips for production and those supply chains could be upended by tariffs. The leading US maker of electric vehicles closed up 5.3% on Wednesday following a Politico report that said Tesla CEO Elon Musk plans to step away from his government role in the coming weeks.
• Eli Lilly (LLY) is sinking along with the other pharmaceutical companies on expectations of forthcoming sectoral tariffs.
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