Aug 8 – Apple (NASDAQ:AAPL) stock climbed over 3% on Thursday after former President Donald Trump promised full tariff relief for U.S.-based manufacturers, specifically benefiting companies like Apple that are ramping up domestic production.
Trump made the pledge during a speech at the White House, stating that chipmakers and tech firms producing inside the U.S. would face zero tariffs on imports like semiconductors. Apple recently committed $100 billion in new U.S. investments, bringing its total planned spend to $600 billion over the next four years. This includes domestic partnerships with suppliers to manufacture more components locally.
Bank of America’s Wamsi Mohan raised his AAPL price target from $240 to $250, citing potential U.S. market share gains if rivals face tariffs while Apple remains exempt. Wedbush analyst Dan Ives also noted the move could reset Apple’s relationship with Trump after recent tensions.
Year-to-date, AAPL stock remains down over 12%, but this policy shift could be a meaningful tailwind.
This article first appeared on GuruFocus.