Apple Shares Surge 6% Amid Tariff Reprieve

U.S. stocks, particularly in the tech sector, surged on Monday following the announcement of temporary tariff exemptions for smartphones and other electronics by the Trump administration, significantly benefiting Apple. Shares of Apple jumped nearly 6%, recovering from previous losses attributed to aggressive tariff policies, while other companies like Nvidia and Dell also saw gains. Analysts noted that the exemption reduces the anticipated tariff impact on Apple from a potential 29% to about 5%, alleviating fears of price hikes for iPhones. However, uncertainty remains as officials indicated that tech products could still face future tariffs tied to semiconductor investigations. This reprieve allows Apple time to adjust its supply chain, potentially increasing production in India and Vietnam. While the market reacted positively, mixed messages from the administration continue to add to investor apprehension regarding future tariff implications.