Apple has erased nearly a year’s worth of market cap gains
Thanks in large part to ongoing tariff escalations between the US and China, Apple has erased pretty much all of the market cap it built up over the last year. At the end of 2024, Apple was worth nearly $4 trillion. Now, after the White House confirmed 104% tariffs on China, where the vast majority of iPhones are made, Apple’s market cap is about $2.65 trillion, or nearly a trillion and half less than it once was.