Analyst Warns of Tariff Fallout for Apple and Tesla Amid Trump's Policies

Analyst Warns of Tariff Fallout for Apple and Tesla Amid Trump's Policies
Dan Ives from Wedbush Securities has downgraded price targets for Apple and Tesla due to President Trump's tariffs. He highlighted Apple's significant reliance on Chinese production, predicting a sharp decline in stock value. Apple's target was cut to $250 from $325, with shares dropping 4.3% to $180. Meanwhile, Tesla's target fell to $315, despite the current price being $233.94. Ives also noted that Elon Musk's political ties are damaging Tesla's reputation and sales, particularly in China, where local brands like BYD are gaining traction.