1508 GMT - Big technology companies aren't immune to U.S. tariffs, Quilter Cheviot analyst Ben Barringer writes in a note. Apple makes 90% of its products in China, with 10% in other Asian countries such as Vietnam and India. "These countries are facing the harshest tariffs, so we can expect iPhones and Apple Watches to go up in price, while hitting the profits of the company significantly," Barringer says. The tariffs are also likely to lead to cutbacks on software and cloud spending. "Alphabet will see a double whammy with digital advertising also cut back on in a tougher economic environment--with Meta also being hit in this regard," he adds. Apple, Meta Platforms and Alphabet shares are down 8.6%, 8% and 3.9% respectively. (najat.kantouar@wsj.com)
(END) Dow Jones Newswires
April 03, 2025 11:08 ET (15:08 GMT)
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