Apple Stock Leads Tech Rebound After Worst 4-Day Stretch Since 2000

Apple (AAPL) stock rebounded from its worst 4-day stretch since 2000 on Wednesday as investors bought the dip in big tech stocks.

Apple shares were up 5% in recent trading, leading a rebound for the Magnificent Seven stocks after days of being hammered by President Trump’s sweeping tariffs. 

Apple lost its title of the world’s most valuable company to Microsoft (MSFT) when shares fell 5% yesterday, putting the stock down nearly 25% since Trump’s “Liberation Day” tariff announcement last Wednesday. Wednesday’s rebound put the two companies neck-and-neck in terms of market value, with each hovering around $2.68 trillion. Read Investopedia’s live coverage of today’s trading here.

Apple’s reliance on China, where it assembles an estimated 90% of its products, is expected to be a headwind for the iPhone maker. The Trump administration has hit Chinese goods with tariffs totaling 104% this year, threatening to significantly increase Apple’s costs and potentially weigh on consumer demand. Apple won an exemption from the first Trump administration during its 2018 trade war with China, but no such reprieve has materialized this time around. 

The company is reportedly planning to send more iPhones to the U.S. via India, which as of Wednesday is subject to a 26% tariff rate. Apple, in an effort to diversify its supply chain, has been ramping up its manufacturing and assembly operations in India for years. 

Bank of America on Monday maintained its “buy” rating on Apple stock, citing its stable cash flows, “earnings resiliency,” and potential to benefit from AI. The firm’s $250 price target represents 45% upside from Tuesday’s close.

In a separate note on Tuesday, BofA analysts called Apple stock’s pullback “a particularly enhanced buying opportunity for investors to own a high-quality name.”