1206 ET - The tariff exemption for smartphones, PCs, servers and other technology imports from the 145% tariff provides relief for Apple, UBS analysts say in a research note. The iPhone maker would have faced significant economic headwinds that could have reduced its earnings power by 30% given that its supply chain is heavily resilient on China despite its diversification efforts over the past decade, the analysts say. While India has been a growing partner for Apple, this assembly partner could theoretically account for only roughly 10% to 15% of iPhone builds or 25 million to 30 million annually. Overall, UBS no longer expects Apple to raise prices for iPhones in the near term. "However, if tariffs are reinstated at prior levels, we would expect a price increase despite the risk of demand destruction." Shares rise 2.3% to $202.76. (sabela.ojea@wsj.com; @sabelaojeaguix)

(END) Dow Jones Newswires

April 14, 2025 12:07 ET (16:07 GMT)

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