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UBS: 25% Tariff on Non-US-made iPhones Expected to Impact Apple (AAPL.US) EPS by Only ~2%
27 May 2025 10:27
US President Donald Trump recently threatened Apple (AAPL.US) with a 25% tariff on iPhones manufactured outside the US, UBS released a research report saying.

Considering the current tariff environment, the broker believed that, without other offsetting measures, the tariff would only impact Apple's EPS by approx. 2%. However, the threat increases market uncertainties, which may put pressure on Apple's valuation.

The broker rated Apple at Neutral, with a target price of US$210, reflecting a higher equity risk premium and interest rates.
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