Why Apple Stock Surged Today
Shares of Apple (NASDAQ: AAPL) jumped on Tuesday after the Trump administration opted to delay the implementation of tariffs on certain Chinese goods. With cellphones and other electronics now free from the planned 10% tariff until mid-December, Apple's upcoming iPhone launch and holiday season sales shouldn't be affected. Apple stock was up 4.1% at 12:15 p.m. EST; it had been up as much as 5.8% earlier in the day.
A 10% tariff on certain Chinese goods not already affected by 25% tariffs, including various electronics, was set to go into effect on Sept. 1. Apple typically launches new iPhones in September, so the tariff would have been in effect for the launch as well as Apple's holiday sales season.
Image source: Apple.
Source Fool.com
