Tesla (TSLA) saw a 5.47% drop in its stock price, with a trading volume of $36.21 billion. The company reported a 13% year-over-year decline in global deliveries for the first quarter, totaling 336,700 units, falling short of the market's expectation of 390,000. In Germany, March sales dropped 42.5% year-over-year. Goldman Sachs has lowered Tesla's target price from $320 to $275.
Apple (AAPL, Financial) shares fell 9.25%, with $20.93 billion in trading volume. The company faces potential price hikes for its iPhones due to proposed tariffs on Chinese imports. Analysts suggest these tariffs could increase iPhone prices by 30% to 40%, significantly impacting consumer costs. Bank of America Securities has reduced Apple's target stock price from $265 to $250.
Nvidia (NVDA) also experienced a decline, dropping 7.81% with a trading volume of $34.63 billion. HSBC downgraded Nvidia to a "hold" rating, despite expectations that Nvidia could withstand tariffs due to its role in AI advancements.
Overall, the market is reacting to concerns over potential tariffs, which could disrupt supply chains and increase costs for companies like Tesla and Apple.
