Nuked 
Hello, my fellow tech enthusiasts! Buckle up as we dive deep into the latest news shaking the tech world.
Recent reports indicate that Apple and Tesla are facing significant challenges due to President Trump’s tariffs. Analyst Dan Ives from Wedbush Securities has lowered his price targets for both companies, signaling tough times ahead.
According to Ives, the tariffs pose a ‘complete disaster’ for Apple, primarily because a staggering 90% of iPhones are produced in China. With his new target set at $250 per share, this follows a worrying trend as Apple shares experience a decline of 4.3% in the market.
On Tesla’s front, Ives has cut the price target from $550 to $315, although that figure still exceeds Tesla’s current rate of $233.94. He attributes some of Tesla’s struggles not just to the tariffs, but also to controversial remarks and actions by CEO Elon Musk, which have affected the company’s branding and sales.
By aligning with Trump’s policies, Musk has inadvertently turned Tesla into a ‘political symbol,’ which may deter buyers in crucial markets like China. This situation could drive consumers to domestic alternatives like BYD, adding to Tesla’s woes.
Ives emphasizes the need for Musk to navigate these turbulent times wisely and emerge as a leader. Tesla’s stock has fluctuated recently, slipping nearly 10% compared to its previous closing price, although it has shown some recovery.
