Wedbush Securities analyst Dan Ives cuts his price target Apple and Tesla Over the weekend, President Trump’s tariffs could undermine both businesses.
“In view of the exposure of Apple’s massive Chinese production, the tariff economy battle released by Trump is a disaster for Apple,” Ives said in a warning note over the weekend. “We don’t think there is more impact on these tariffs than Apple that produces and assembles 90% of iPhones in China.”
Wedbush lowered its Apple stock price target by $75 to $250 per share. Apple’s shares fell 4.3% this afternoon and traded at $180.
Ives also lowered Tesla’s price target from $550 to $315, which is still far higher than Tesla’s current share price of $233.94 as of 2:10 pm ET.
Ives said the impact of tariffs is not the only reason for the price cut. He also cites CEO Elon Musk’s politics, which creates a Brand Crisis For automakers. Musk’s link to Trump and his tariff policies are affecting Sales volume In the United States and Europe, Tesla’s popularity in China is also threatening[ing] Chinese consumers buy households, such as Bied. ” Ives said.
“Tesla has become Political symbol Global,” he Write. “It’s time for Musk to step up, read the room and be a leader in a time of uncertainty.
Tesla shares fell nearly 10% compared to Friday’s closing price, but rebounded somewhat as of Monday afternoon.
