NEW YORK, April 8. /TASS/. Shares of technology giant Apple have dropped by approximately 20% over the past three days, resulting in a nearly $640 bln reduction in the company’s market capitalization, CNBC reported.
It was noted that Apple is one of the American companies most affected by the tariffs imposed by US President Donald Trump, as its primary manufacturing facilities are located in China, India, Vietnam, and Thailand. According to analysts at UBS Bank, the prices of Apple products are set to rise by at least $350.
On April 2, Trump announced the imposition of customs duties on products from 185 countries and territories. The universal 10% tariff rate came into effect on April 5, with individual tariffs set to take effect on April 9.