The American tech giant Apple has lost its title as the world’s most valuable publicly traded company, overtaken by Microsoft.
Apple’s stock has dropped by more than one-fifth in recent days due to concerns over the potential impact of American tariffs on the company, which manufactures the majority of its iPhones in China.
The United States imposed a 104% tariff on Chinese imports on Wednesday.
This stock decline has reduced Apple’s market capitalisation to approximately $2.6 billion (£2.35 billion), while Microsoft’s valuation now exceeds $2.64 billion.
US President Donald Trump is advocating for companies to relocate more of their production to the United States.
However, Dan Ives, an expert from investment firm Wedbush Securities, estimates that such relocation would increase the price of an iPhone to $3,500 (£3,170).
Additionally, Apple would need to spend $30 billion to repatriate just 10% of its supply chain to the US. Apple is considering initially importing iPhones produced in India, where tariffs are limited to 27%.
