Apple Stores in the United States were packed after Donald Trump imposed new tariffs on products coming from China.
This is because 90% of Apple’s devices are manufactured in China, and with Trump threatening to raise tariffs from 34% to 84%, experts suggested that Apple might increase product prices to pass those costs on to consumers.
As a result, many Apple customers rushed to stores to buy iPhones before the expected price hike, according to a report from Bloomberg.
While uncertainty looms as Apple loses billions in market value, experts suggest that the price increases may not come into effect until the end of the year.
That’s according to Angelo Zino, an analyst at CFRA Research, who doesn’t believe the company will be able to pass more than 10% of those costs on to consumers.
He also expects Apple to absorb the tariff hikes until the launch of the iPhone 17, which is expected in September this year. “That’s how they usually handle planned price increases,” he told Reuters.
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