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Tariff storm ravages Magnificent Seven as Apple nears 1-yr low
Orissa POST
|April 08, 2025
The "Magnificent Seven" stocks sank Monday, extending a market rout that has wiped off around $2 trillion from their combined value as investors worry about the financial fallout of U.S. President Donald Trump's global tariff war.
The companies have collectively shed more than $6 trillion in market value since their peak in late 2024.
Apple, Alphabet, and Microsoft were trading around one-year lows, with the iPhone maker falling 4.8%, while other "Mag 7" members fell between 1.5% and 4.8%.
The group has accounted for a large chunk of the more than $5 trillion the S&P 500 index has lost in value over the past two trading sessions.
Wedbush analyst Ives said as a U.S. tech company Apple has the biggest exposure to American tariffs on Chinese goods as most iPhones are assembled in China.
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