When new mutual tariffs become effective on April 9, Apple’s customers are scratched to buy equipment before the price rises in prices. Many apple employees who used to talk Bloomberg Said that their store customers have been packed with “panic-weight” iPhones. “Almost every customer asked me if the prices were going to grow soon,” an apple worker was quoted saying this.
The crowd in retail stores was comparable to a holiday season busy, in which Apple did not give any guidance to the employees to tell the customers. Apple’s retail stores allegedly experienced high sales on 5 and 6 April, as they have in the previous years during the same time.
Apple is preparing for tariffs and has resorted to iPhones and other equipment in the United States. As The Times of India Apple sent five aircraft filled with iPhones and other equipment from India to the US during the last week of March, while traditionally brought from China to iPhones during a slow time. The reserves, which can last several months, will allow Apple to avoid price increase in the near period.
earlier today, The Wall Street Journal Said that Apple will reduce some tariff effects by importing more iPhones from India to America, as India has a lower tariff rate than China. Apple can meet the demand for 50 percent iPhone of US iPhone with equipment made from India. Apple will have to pay 26 percent tariff on goods from India, but China is 54 percent.
Apple stock has fallen by about 20 percent since last Wednesday, but Apple has not publicly commented on the tariff position. The company plans an earning call for May 1, when we can hear more about Apple’s mitigation plan.
