April 9, 2025 – On Tuesday, Apple Inc. relinquished its title as the world’s most valuable publicly traded company as its stock price plummeted amid the implementation of steep tariffs on Chinese imports.
The tech giant’s shares fell by 5% on Tuesday, shrinking its market capitalization to just under 2.6trillion.Meanwhile,MicrosoftCorp.surpassedApplewithamarketvalueof2.65 trillion.
Since President Trump announced a 34% tariff increase on Chinese goods effective April 9, Apple’s stock has plummeted by more than a fifth over the past four trading days. Last week, China retaliated with a 34% tariff on U.S. goods, prompting Trump to threaten an additional 50% tariff on Chinese imports.
Approximately 90% of Apple’s products are assembled in China. The company had previously received tariff exemptions during the initial U.S.-China trade war under the Trump administration but failed to secure similar relief this time.
Apple has been the worst-performing stock among the “Magnificent Seven” tech giants over the past week, with Tesla trailing closely behind. Since Trump’s tariff announcement, Tesla’s shares have declined by roughly 21.5%. During the same period, Amazon, Nvidia, and Meta each saw their stock prices drop by 12-13%, while Alphabet and Microsoft declined by 7.7% and 7.2%, respectively.
Apple’s stock decline has erased nearly $775 billion from its market value, a figure exceeding Tesla’s entire market cap and surpassing the combined value of all companies outside the “Magnificent Seven.”
