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Investing.com -- Trump’s latest round of tariffs could have significant implications for Big Tech, with Apple (NASDAQ:AAPL), Amazon (NASDAQ:AMZN), Meta (NASDAQ:META), and Google (NASDAQ:GOOGL) among the most affected companies, according to Rosenblatt analysts.
The firm says Apple is particularly exposed due to its reliance on Chinese manufacturing.
"iPhones, Macs, and other devices sold in the US are probably impacted," the analysts noted.
While Apple was previously exempted from tariffs during Trump’s first administration after arguing they would disadvantage the company against Samsung (KS:005930), "that’s not the case right now."
With the Americas accounting for 43% of Apple’s sales and products making up 75% of revenue, Rosenblatt estimates that under 20% of Apple’s total sales are potentially exposed to tariffs.
If passed through to consumers, effective price hikes could be in the range of "6% to 7%," which might pressure demand, said Rosenblatt.
Amazon is also in the crosshairs, as it "probably sources the majority of merchandise they sell from China," Rosenblatt said. This could lead to higher costs for the e-commerce giant and its customers.
Meanwhile, Meta could see some indirect impact, as "5% of its ad revenue comes from China-based e-commerce companies."
Rosenblatt believes the tariffs "could stick" longer than expected, as Trump now sees them as "a meaningful revenue source for the government."
While legal challenges may arise, the courts have historically been "deferential to the executive branch in this area."
Rosenblatt adds that if tariffs drive inflation higher, public opposition could force Trump to reconsider, but "Trump is posting about people absorbing near-term pain for his view of long-term gain."
With earnings season underway, analysts expect the tariff issue to be a key topic in company calls, particularly for Apple and Amazon, which may face the biggest challenges in navigating the policy shift.