US technology companies' shares fell in Thursday premarket trading after the Trump administration's tariff announcement on Wednesday was seen as worse than expected.
Shares of Apple (AAPL) fell 7.4%, Nvidia (NVDA) declined 4.5%, Taiwan Semiconductor Manufacturing (TSM) dropped 4.8%, Advanced Micro Devices (AMD) was down 4.6%, QUALCOMM (QCOM) declined 4%, Broadcom (AVGO) fell 5.4%, and Micron Technology (MU) was 5.5% lower pre-bell.
Wedbush said in a note on Wednesday that tech stocks will be under pressure following the announcement as investors worry about demand destruction, supply chains, and especially the tariffs placed on China and Taiwan.
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