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Dell, Best Buy, and other electronics retailers surge after Trump’s latest tariff exemptions

Government officials say relief is just a temporary measure.

4/14/25 9:52AM

Electronic retailers surged in premarket trading following a surprise move by President Trump to exempt smartphones, chips, and other tech products from sweeping new tariffs.

Best Buy shares jumped more than 12%, while Dell rose about 8% and HP climbed 5%. The exemption comes as a relief for companies heavily reliant on global supply chains. Just last month, Best Buy shares took a hit, despite topping Q4 estimates, after warning that international commerce is “critically important” and flagging China and Mexico as its top two product sources.

Meanwhile, PC giants Dell, HP, and Microsoft were already bracing for impact — reportedly asking manufacturing partners in China to ramp up production back in November and December to hedge against rising costs. Under the new changes, electronics are excluded from Trump’s 125% tariff on Chinese goods and a separate 10% tax on imports from other trade partners. Still, US Commerce Secretary Howard Lutnick warned the exemptions are only temporary.

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SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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