Apple stock sells off as Tim Cook projects $900 million tariff bite
By: bitcoin ethereum news|2025/05/03 01:45:02
0
Share
Apple stock gives way as $900 million tariff cost poses a concern. CEO Tim Cook said he could not project tariff effects beyond the June quarter. Nonfarm Payrolls for April arrive above consensus, sending indices higher. The next support level for AAPL stock comes at $196. Apple (AAPL) stock is the worst-performing Magnificent 7 mega-caps coming out of earnings so far. Barring Nvidia (NVDA), which doesn’t post earnings until the end of May, Apple is the only one of the bunch to demonstrate a clear downside move in the first regular trading session post-earnings. Amazon (AMZN) initially sold off post-earnings on Thursday but has moved back toward even in Friday’s session. Apple’s second fiscal quarter results, released after market close on Thursday, showed a successful beat on the top and bottom lines, but the market focused on the tariff issue to the disadvantage of other positive details. Apple stock opened about 5% lower on Friday but has recovered somewhat to trade 3.5% lower near lunchtime. The broader market is in an upswing after US Nonfarm Payrolls (NFP) for April came in above the forecast. Though March NFP figures saw a major revision to the downside, all three indices gained 1% or more. Apple stock news The major discontent from Thursday’s earnings release was displeasure over the extent of the pain caused by the Trump administration’s tariffs. “Assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter, and no new tariffs are added, we estimate the impact to add $900 million to our costs,” CEO Tim Cook told analysts on the earnings call. One issue with this announcement is that it does not take into account any downturn in the macroeconomic picture. Multiple large banks, such as JPMorgan, have already predicted that a recession will occur due to the tariffs causing a slowdown in growth. Another drawback of Cook’s admission is that he claimed not to have any insight into the effect of tariffs after the current quarter ending in June. While Apple was able to direct more iPhone production from China to India to circumvent those much higher tariffs in the current quarter, investors are realizing that they have little insights into the second half of the year. Another drawback of the Q2 result is that Apple’s consensus beat was narrow. The company reported GAAP earnings per share (EPS) of $1.65, just 3 cents ahead of the forecast. Revenue of $95.4 billion was $840 million ahead of the consensus. The real highlight of the quarter was the services division. Revenue in this segment climbed 12% YoY, double the overall level. While wearables, home and accessories revenue fell 5%, iPad revenue also climbed 15% YoY. Apple stock forecast Apple stock has lost part of its recent rally, which advanced for eight straight sessions. Currently trading near $205 on Friday, the next support comes at $196, a point of resistance during 2024. The next layer of support comes at $180, which is just above the 61.8% Fibonacci level near $178. The year-to-date lows surrounding $170 are undergirded by the 78.6% Fibonacci at $168.60. If Apple stock was to break out of its 2025 downtrend, the first necessary move would be to overcome the descending 50-day Simple Moving Average (SMA) near $215.50 before putting in a new range high above the late March resistance at $225. AAPL daily stock chart Source: https://www.fxstreet.com/news/apple-stock-sells-off-as-tim-cook-projects-900-million-tariff-bite-202505021601
You may also like

Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16

SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?

Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15

The foundation of SpaceX's trillion-dollar valuation: Who is dividing Musk's annual capital expenditure of tens of billions?
SpaceX Supply Chain Revealed: The Invisible Gold Mine Behind the Trillion-Dollar "Space Dream," from Nvidia's Computing Power Monopoly to China's Sole Supplier of Special Materials, these overlooked water-selling talents are the true wealth creation engine.

How to exit after asset tokenization?
Currently, three models have emerged, aimed at providing instant exit routes for tokenized real-world assets. Their differences lie in: who holds the funds required for exit, how efficiently the funds operate, and the extent to which this model can be scaled across different asset types.

The stablecoin positioning battle escalates: When compliance is just a ticket to entry, will USD1 become the biggest winner?
How does the GENIUS Act reshape the stablecoin landscape?

A16Z: The sun bears witness, SpaceX is worth 7.5 trillion
A deep analysis of Musk's ultimate grand vision: how SpaceX, xAI, and Tesla are deeply intertwined, using space AI data centers and Starships to gradually turn the sci-fi fantasies of Mars colonization and multi-planetary civilization into reality.

Mergers and acquisitions in the cryptocurrency market are exceptionally active
Behind the rise in mergers and acquisitions is a sluggish financing market, declining project valuations, and increased pressure for startup teams to exit. However, it also indicates that the cryptocurrency industry has not lost its capital vitality, but is completing resource reorganization in anot...

Concerns Behind the Binance Customer Service Controversy
As the user base expands to the scale of Binance today, relying on the personal efforts of the founder and a few employees to fill process gaps has become an unsustainable arrangement.

SpaceX Stock Prediction After the IPO: Can SPCX Reach $200 Before QQQ Inclusion?
SpaceX stock has become one of the hottest trades of 2026. Can SPCX reach $200 before QQQ inclusion? Discover the latest SpaceX stock prediction, analyst targets, Bitcoin exposure, and the key catalysts that could move SpaceX stock after its historic IPO.

Congratulations to Carl Moon on His Historic Ferrari Challenge Le Mans Podium Triumph
Crypto influencer and racing enthusiast Carl Moon finished third in the Ferrari Challenge Le Mans Coppa Shell class, marking his best result of the year. As his racing partner and sponsor, WEEX celebrates this remarkable achievement and continues to lead crypto’s journey beyond boundaries, uniting the innovation of digital assets with the passion of motorsport.

Can the CLARITY Act Become Law by July 4? Everything You Need to Know About the Final Battle
The CLARITY Act has cleared a major Senate hurdle, but the hardest battle is still ahead. With the July 4 deadline approaching, can the White House finally pass its biggest crypto regulation bill? Find the clues in our exclusive analysis below.

France vs Senegal World Cup 2026: Mbappe’s New Era Begins Against a Historic Rival
France vs Senegal World Cup 2026 preview: Can Mbappe lead France past Senegal after the shocking 2002 World Cup defeat? Full team news, predicted lineups, key battles, and WEEX's exclusive match prediction.

What is the connection between Huang Zheng of Pinduoduo and blockchain?
From Pinduoduo's "reverse insurance" to blockchain's smart contracts, this article explains how Huang Zheng's underlying logic uses "certainty" rules to reshape the flow of wealth for ordinary people.

Morning Report | Prediction market platforms like Kalshi and Polymarket jointly sue Kentucky over 14.25% trading tax; Bridgewater founder discusses decision-making in the AI era: principled thinking should run parallel to AI, human insight remains irre...
Overview of Important Market Events on June 15

If the AI bubble has already burst, who will truly remain?
What remains after the AI bubble bursts? The plummeting cost of computing power is driving AI to accelerate the reshaping of various industries. What will be left after the major reshuffle is an irreversible revolution in real productivity.

Paul Graham: How to Make a Billion Dollars
Silicon Valley guru Paul Graham reveals the underlying logic of billion-dollar wealth: no need to cheat, just create products that users love intensely, allowing exponential growth to create wealth miracles.

After 18 years, blockchain has finally started to head towards the main channel
When AI becomes the new center of gravity in the capital market, the response of crypto VCs is not to stick to "Crypto-only," but to repackage crypto as the financial track, ownership layer, and autonomous system infrastructure of the AI era.
Morning Report | DeepSeek completes over $7 billion in financing, with a valuation exceeding $50 billion; Musk's personal wealth has surpassed the total market value of Bitcoin
Overview of Important Market Events on June 16
SharpLink CEO: How to understand that Ethereum developers have just surpassed 1 million?
The most important question in the cryptocurrency industry is not which chain is the fastest, but rather where top builders choose to build in the long term. Ethereum has just surpassed one million cumulative developers; what does this number mean?
Morning Report | MiCA grace period expires on July 1; Kalshi's trading volume in the first week of the World Cup breaks $5.1 billion, setting a record
Overview of Important Market Events on June 15
The foundation of SpaceX's trillion-dollar valuation: Who is dividing Musk's annual capital expenditure of tens of billions?
SpaceX Supply Chain Revealed: The Invisible Gold Mine Behind the Trillion-Dollar "Space Dream," from Nvidia's Computing Power Monopoly to China's Sole Supplier of Special Materials, these overlooked water-selling talents are the true wealth creation engine.
How to exit after asset tokenization?
Currently, three models have emerged, aimed at providing instant exit routes for tokenized real-world assets. Their differences lie in: who holds the funds required for exit, how efficiently the funds operate, and the extent to which this model can be scaled across different asset types.
The stablecoin positioning battle escalates: When compliance is just a ticket to entry, will USD1 become the biggest winner?
How does the GENIUS Act reshape the stablecoin landscape?
Customer Support:@weikecs
Business Cooperation:@weikecs
Quant Trading & MM:bd@weex.com
VIP Program:support@weex.com
