CNBC AI Report – U.S. stocks opened sharply lower Thursday, with Apple shares plunging over 3% in early trading and shedding more than $100 billion in market value, as former President Donald Trump renewed pressure on the tech giant to shift iPhone production to the U.S.
In a post on Truth Social early Friday, Trump claimed he had “long advised” Apple CEO Tim Cook to prioritize domestic manufacturing for iPhones sold in the American market. “I made it clear: If Apple wants to avoid a 25% tariff on every unit imported, those devices need to be stamped ‘Made in the USA,’” Trump wrote, doubling down on his longstanding protectionist rhetoric.
The remarks triggered immediate investor anxiety, compounding concerns over U.S.-China trade tensions. Analysts at Wedbush Securities noted that while Trump’s tariff threat creates headline risk, Apple’s intricate supply chain—deeply rooted in China and increasingly in India—makes a rapid pivot stateside impractical. “Relocating decades of manufacturing infrastructure isn’t like flipping a switch,” said Wedbush’s Dan Ives. “Apple’s partners have $50 billion+ invested in Asian facilities. Investors recognize this bluster, but near-term uncertainty still stings.”
Market watchers are now assessing the feasibility of Trump’s demands as the 2024 election cycle heats up. While reshoring remains a political talking point, Apple’s 2023 supplier list shows over 180 Chinese companies in its orbit, underscoring the logistical and economic hurdles of disentangling global tech supply chains. The stock’s dip reflects less a panic than a recalibration of political risks in the tech sector’s $5 trillion valuation calculus.
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