Apple Plummets, RH Shares Tumble, Lamb Weston Soars on Beat
On this episode of Stock Movers:- Apple (AAPL) shares are down as the iPhone maker is finding itself squarely in the crosshairs of President Donald Trump’s new tariffs, even after a years long effort to insulate the iPhone maker from trade wars and supply chain disruptions. A long list of levies unveiled by the White House are poised to hit the company especially hard, triggering a stock rout. The new reciprocal tariffs — a tax on imported goods in response to existing tariffs — will reach 34% for China. That would bring the total rate on Chinese goods to 54%, threatening to roil an Apple supply chain that still has the Asian country at its heart.- RH (RH) shares tumbled on a record decline, after the luxury home furnishing company’s annual revenue growth forecast trailed Wall Street expectations. Its fourth-quarter sales and profit also missed the average estimates. Analysts note that new round of tariffs add “significantly more uncertainty,” with BofA and Citi downgrading the stock.- Lamb Weston Holdings (LW) rose after the french-fry supplier posted fiscal 3Q results that topped estimates and as management hired a consulting firm to look for cost savings.See omnystudio.com/listener for privacy information.