Apple hits new lows this year on 104% China tariffs

Apple hit a new low for the year after news that the US would indeed impose 104% tariffs on China, where the company produces many of its products. Apple had already been reeling from the 54% reciprocal tariffs, which could increase the price of iPhones by hundreds of dollars, before the latest round of retaliatory tariffs.

In a rare bit of good news for Apple, it seems the tariffs have finally pushed consumers to buy new iPhones, if only to avoid higher costs later.