Apple’s stock rose sharply on Monday after reports that the U.S. and China have agreed to reduce tariffs on tech products, including smartphones. This news helped Apple’s stock hit a new record high of over $210 per share, giving the company a market value above $3.2 trillion.
The tariff deal is expected to lower the cost of making iPhones and other Apple devices in China. Apple depends heavily on its supply chain in China, so this move may ease pressure on production costs. Investors see this as a big win for Apple’s future profits.
Wall Street reacted quickly. Analysts believe this change could save Apple billions in the long run, especially since China is both a key market and a major manufacturing base for the company. One expert from Wedbush Securities said the deal could be a “game-changer” for Apple’s earnings in the second half of the year.
The news also lifted other tech stocks, as many U.S. companies rely on Chinese manufacturing. Overall, the agreement between the two countries brought fresh optimism to the market and could mean fewer trade tensions ahead. This positive update comes at a time when Apple is focusing more on international markets and new products like AI-powered features in upcoming iPhones.
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