Why Apple Stock Is Sinking Today
Shares of (NASDAQ: AAPL) are heading lower in Thursday's trading. The tech giant's stock was down 4.2% as of 3:30 p.m. ET. Meanwhile, the S 500 and the Nasdaq Composite had fallen 3.6% and 4.4%, respectively.
The stock market skyrocketed yesterday after President Donald Trump announced a 90-day lifting of reciprocal tariffs on all countries except China, but valuations are heading lower today after new information emerged. While Trump announced yesterday that an import tax rate of 125% would be applied to Chinese goods, it turns out the tariff rate is now 145%.
The Trump administration said today that the 125% tariff on China that it cited yesterday actually represented an added import tax on top of an existing 20% tax on products from the country. A tariff of 145% on Chinese goods has now gone into effect, and investors are responding by selling out of Apple and other stocks today.
Source Fool.com
Apple Inc. Stock
Our community is currently high on Apple Inc. with 99 Buy predictions and 9 Sell predictions.
As a result the target price of 228 € shows a slightly positive potential of 5.48% compared to the current price of 216.15 € for Apple Inc..
