"Then, at an event in the Oval Office on Aug. 6, Apple Chief Executive Officer Tim Cook committed to spending an additional $100 billion on manufacturing in the US. Combined with the iPhone maker's expansion of a long-standing deal with glass-supplier Corning Inc., the risk of additional Trump tariffs were seen as diminishing and the stock took off, soaring 8.7% in August, putting it on pace for its best month since June 2024."
"It's been a strange stretch for Apple. The stock has been a reliable winner for years, soaring more than 240% from 2020 through 2024, putting it among the 20 best performers in the tech-heavy Nasdaq 100 Index. But this year has been different. Even with its August run, the shares are still down 10% in 2025, putting them among the worst performers in the benchmark. In addition to tariffs, the company is facing skepticism about its artificial intelligence plans and sluggish sales growth."
Apple's stock reversed course in August after tariff-related risks that weighed on the company began to ease. Tariff concerns had driven shares down, with levies costing the company $800 million in the fiscal third quarter. A $100 billion commitment to US manufacturing by Tim Cook, together with an expanded deal with Corning, reduced the perceived risk of additional tariffs and helped the stock jump 8.7% in August. Despite the rally, shares remain down year-to-date, face skepticism over artificial intelligence plans and sluggish sales growth, and trade at a premium valuation relative to recent averages.
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]