US Stock Movement | Apple falls over 8%, Citigroup: New tariffs may impact Apple's gross margin by 9%
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On Thursday, Apple fell more than 8%, closing at $205.36. In terms of news, on April 2nd local time, the United States announced comprehensive tariffs on imported goods. Citigroup stated that if Apple cannot pass on the full cost of Trump's new tariffs, the company's gross margin could be impacted by 9%. Since over 90% of Apple's manufacturing capacity is concentrated in China, its products imported from China may face cumulative tariffs of up to 54%. Additionally, the 26% tariff on imported goods from India may further drag down the gross margin by about 0.5%
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