Apple has been working to diversify manufacturing into countries like India and Taiwan, but with 90–95% of its production still overseas, it’s feeling the impact of tariffs. The good news: Apple plans to invest $500 billion in the U.S. over the next four years, likely earning tax credits and political favor. If Apple absorbs all tariff-related costs, profits would drop about 14%—manageable, but with its high valuation after two strong years, the company is looking a little vulnerable right now.
