Tech Stocks Rise as US Eases Tariffs on Electronics

Apple's shares surged over 6% following the U.S. government's announcement of tariff exemptions for smartphones, computers, and other electronics primarily imported from China. This positive market reaction extended to other tech stocks, with Nvidia and Dell also experiencing gains. However, uncertainty persists as President Trump indicated that he would soon announce new levies on imported semiconductors, which could impact the tech sector. Analysts suggest that the tariff exemptions may alleviate potential financial strain on Apple, which previously faced concerns over increased tariffs affecting profit margins. Despite this, forecasts for Apple's shipment and earnings growth have been revised downward due to anticipated economic challenges. Citi Research maintains a 'buy' rating on Apple stock, albeit with a lowered target price due to these economic forecasts.