Apple has regained its top position over Microsoft as the most valuable U.S. company, with shares rising more than 2 percent on Monday and pushing its market value above $3 trillion. This surge comes as Wall Street expressed relief at the iPhone maker’s ability to withstand widespread tariffs imposed by U.S. President Donald Trump.
Late Friday, the Trump administration announced that phones, computers, and chips would be exempt from the new tariffs. Apple is among the companies most affected by Trump’s tariffs, as the majority of its iPhones, iPads, and MacBooks are manufactured in China and other Asian countries. Trump has called on Apple to manufacture its products in the United States.
Impact of exemptions on Apple’s costs
Most essential Apple imports have been exempted from tariffs, a move Wall Street analysts say could save Apple billions of dollars in costs. However, administration officials warned over the weekend that the exemptions are temporary and could change in the coming weeks.
“I speak to Tim Cook,” Trump said Monday at an Oval Office briefing, referring to the Apple CEO. “I helped Tim Cook, recently, and that whole business. I don’t want to hurt anybody, but the end result is we’re going to get to the position of greatness for our country.”
Read more: Microsoft surpasses Apple as most valuable company amid trade war concerns
Earnings uncertainty affects stock performance
Moreover, uncertainty about the future explains Apple’s relatively weak earnings on Friday. The stock is still down nearly 9 percent in April after falling more than 8 percent in March. The 11 percent decline in the first quarter represents Apple’s worst performance since 2023.
New product launches
Apple further introduced the new MacBook Air featuring the M4 chip and a vibrant sky blue color, along with a powerful new Mac Studio, touted as the most powerful Mac ever. These launches are part of Apple’s strategy to enhance its product lineup and attract consumers.
Apple intelligence features
Apple has expanded its Apple Intelligence features to new languages and regions, enhancing user experience across its devices. This includes the integration of AI capabilities into the Apple Vision Pro, which was launched earlier this year.
