Tech Declines as Trump Singles Out Apple - Tech Roundup

Dow Jones05-24

Shares of technology companies fell after President Donald Trump singled Apple out for tariff threats.

Trump vowed he would impose duties of 25% on iPhones made overseas and shares of the Cupertino, Calif., tech giant fell by 3%.

Among Apple suppliers, shares of Qualcomm and Hon Hai Precision slipped. Apple rival Alphabet also slipped in the wake of the report.

The iShares SOXX Semiconductor exchange-traded fund, a basket of chip makers that had surged in late April and early May as the U.S. and China de-escalated the trade war, fell for the fifth straight session.

Shares of workplace software maker WorkDay plunged by more than 10%, slipping into the red for the year after its earnings were not as robust as some investors had anticipated.

Write to Rob Curran at rob.curran@dowjones.com

(END) Dow Jones Newswires

May 23, 2025 17:28 ET (21:28 GMT)

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