The shares of Apple Inc., Super Micro Computer Inc., NVIDIA Corp., and Advanced Micro Devices Inc. surged during Monday’s pre-market trading session after the Trump administration announced a tariff reprieve to the tech industry.
President Donald Trump has excluded certain technology products, including smartphones, laptops, hard drives, and computer processors and memory chips, from the reciprocal tariffs. This move reduces the scope of the imposed levies and provides significant relief for global tech giants such as Apple and Nvidia.
The exclusions apply to these specific products, shielding them from Trump’s proposed 125% tariff on Chinese goods and the baseline 10% global tariff on most other countries. As a result, Apple’s shares climbed 5.37%, while SMCI rose 5.31%. AMD and Nvidia also saw significant gains of 2.36% and 2.24%, respectively.
This move comes after President Trump announced that he would reveal the tariff rate on imported semiconductors in the coming week amid an investigation into semiconductors as per Section 232 trade law. The administration’s desire to manufacture semiconductors domestically suggests a potential shift in trade policy.
However, it is worth noting that this tariff relief could be temporary. President Trump emphasized that “NOBODY is getting ‘off the hook'” and that tariffs and levies on tech products are essentially just being shifted to a different category.
Source: https://www.benzinga.com/25/04/44784092/apple-smci-nvidia-and-amd-stocks-climb-in-monday-pre-market-whats-going-on