Apple Bounces Back: 15% Surge in Stock Price on Tariff Relief

Apple's stock experienced a significant recovery following President Trump’s announcement of a 90-day pause on tariffs affecting more than 75 countries. After several days of losses, including a 5% drop on Tuesday to $172.87, the stock surged by 15.3% on Wednesday, closing at $198.85. The market's positive reaction also helped Apple reclaim its position as the largest U.S. company by market cap, now at $2.99 trillion. The pause in tariffs and a reduction in tariffs for countries other than China are seen as beneficial for Apple, which has an expanded supply chain outside of China.