Apple's market cap rebounds as Trump tariff exemptions ease investors

Apple’s market valuation climbed back above the $3 trillion mark on Monday, as investors responded positively to a White House decision to temporarily exempt phones, computers, and chips from newly imposed tariffs. The latest Trump administration’s announcement brought momentary relief for Apple, which manufactures a majority of its iPhones, iPads, and MacBooks in China and across Asia, and had been facing significant financial pressure from escalating trade tensions.

Analysts estimate the exemptions could save Apple billions in costs. According to Morgan Stanley, thanks to the revised measures, the company’s potential “annualised tariff cost burden” has now dropped dramatically from $44 billion to $7 billion.

However, the reprieve comes with a special warning. U.S. officials stressed that the tariff exemptions were only temporary and could be revoked depending on the evolving trade negotiations.

“I speak to Tim Cook. I helped Tim Cook recently, and that whole business,” President Donald Trump said Monday, referencing the Apple CEO. “I don’t want to hurt anybody, but the end result is we’re going to get to the position of greatness for our country.”

The recent climb revives Apple’s position as the most valuable publicly traded U.S. company, edging past Microsoft once more. However, the tech giant’s future will remain tightly linked to tariff policy and the broader geopolitical climate, especially if the current exemptions prove short-lived.