Apple stock nears one-year low

On Monday, the “Magnificent Seven” stocks – which is headed by Apple – plummeted, deepening a market sell-off that has erased roughly $2 trillion from their collective value, amid some investors’ concerns over the economic repercussions of U.S. President Donald Trump’s use of tariffs to level the playing field in worldwide trade.

Apple’s 52-week low stands at $164.08, set on April 19, 2024. Shares closed today at $181.46.

Reuters:
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The cuts came as Trump doubled down on tariffs on Sunday, telling investors to endure the consequences and ruling out trade talks with China for now.

Tesla shares slumped 7% to $223, leading losses among the “Magnificent Seven” – a group of high-performing tech stocks that powered Wall Street’s rally for years but whose fortunes have taken a turn for the worse in the last few months.

The companies have collectively shed more than $6 trillion in market value since their peak in late 2024.

Apple, Alphabet, and Microsoft were trading around one-year lows, with the iPhone maker falling 4.8%, while other “Mag 7” members fell between 1.5% and 4.8%.

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MacDailyNews Take: This too shall pass. Patience, padawans.

I will tell you the secret to getting rich on Wall Street. You try to be greedy when others are fearful. And you try to be fearful when others are greedy. ― Warren Buffett

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