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Apple (NASDAQ:AAPL) and other major U.S. technology stocks advanced in early premarket activity Monday after the Trump administration issued temporary tariff exemptions on widely used electronics.
The U.S. Customs and Border Protection agency released a notice Friday listing products that would be excluded from the administration's latest trade measures, which include 145% tariffs on goods from China and a 10% baseline tariff on imports from most other countries.
Items spared from the tariffs include smartphones, laptops, processors, memory chips, flat-panel displays, hard drives, and solar cells.Apple's shares were trading more than 6% higher, while Nvidia (NVDA) was up more than 2.5%. Dell Technologies (NYSE:DELL) rose over 7%, and HP (NYSE:HPQ) gained more than 5%.
Super Micro Computer (NASDAQ:SMCI) and Hewlett Packard Enterprise (NYSE:HPE) also moved higher, while Taiwan Semiconductor Manufacturing (NYSE:TSM) posted a more modest increase.Semiconductor makers in Europe also gained, with ASML Holding (NASDAQ:ASML) up more than 2%, and Infineon Technologies (IFNNY) advancing as well.
KeyBanc Capital Markets analyst Brandon Nispel upgraded Apple to Sector Weight from Underweight, calling the tariff reprieve a significant relief. He added, however, that risks remain due to elevated growth expectations for fiscal 2026 and signs of weakening consumer demand.
This article first appeared on GuruFocus.