Apple, the manufacturer of the iPhone, saw its stock price dip below $200 on the New York Stock Exchange on the 23rd (local time) following a tariff warning from President Donald Trump.
As of 11:55 a.m. Eastern time, Apple's stock was trading at $196.17, down 2.58% from the previous day. The stock at one point fell to $193.46, the lowest level since the 7th.
This is the first time Apple's stock has not reached the $200 mark since the 9th (198.27).
On this day, President Trump issued a threat to impose a 50% tariff on European Union (EU) products starting from next month, causing major tech stocks to show an overall decline of 1%.
However, Apple's decline was the largest.
Earlier, President Trump noted on his social media platform Truth Social that he had informed Apple CEO Tim Cook a long time ago that he hoped iPhones sold in the United States would be manufactured in the U.S. rather than in India or any other country, saying, "Otherwise, Apple will have to pay a tariff of at least 25%."
Apple produces most of its iPhones in China. Recently, as trade tensions between the U.S. and China escalated, it has been diversifying its production base to India.
The Wall Street Journal expresses concern that if Apple transfers its factories to the U.S., product prices will inevitably rise. Dan Ives, an analyst at Wedbush Securities, has suggested that if iPhones are produced in the U.S., prices could reach $3,500, which is about 3.5 times the current price of the iPhone 16 Pro, roughly $1,000.
In its earnings announcement on the 1st, Apple stated that it expects additional expenses of about $900 million in tariffs in this quarter (April to June).
CEO Tim Cook said in a conference call with investors that it is difficult to predict the tariff outlook beyond June.