Apple Wipes $640 Billion in Market Value in 3 Days

While the overall stock market performance on Monday was better than the previous two trading days, Apple was hit again, losing 3.7% as fears grew that the company would be hit hard by President Trump’s tariffs.

This selloff brought Apple’s three-day loss to 19%, a steep decline that wiped $638 billion off its market value.

Analysts say Apple is one of the companies most exposed to the trade war, primarily due to its reliance on China, which faces 54% tariffs. Although Apple has production in India, Vietnam, and Thailand, these countries are also facing increased tariffs as part of President Trump’s comprehensive plan.

Among the large-cap tech companies, Apple is facing the toughest period. On Monday, Apple, Microsoft, and Tesla were the only companies in that group of seven to decline. The Nasdaq closed slightly higher on Monday after falling 10% last week, its worst performance in more than five years.

Analysts say Apple will likely have to either raise prices or incur additional tariff costs when the new duties take effect. UBS analysts estimated on Monday that the price of Apple’s high-end iPhone could rise by about $350, or about 30%, from its current price of $1,199.

Barclays analyst Tim Long wrote that he expects Apple to raise its prices, or the company could suffer a 15% drop in earnings per share. Apple may also be able to reorganize its supply chain so that imports to the United States come from other countries with lower tariffs.