Global tech stocks and chipmakers rose in premarket trading Monday after the Trump administration published tariff exemptions on smartphones, computers, and other electronics — though Trump and his top officials muddied that message over the weekend, suggesting the reprieve would be temporary.
As my colleague Jenny McCall details below, Apple (AAPL) was a top mover Monday morning, rising 5.5% on the exemptions. Apple also led global smartphone sales in the first quarter, according to Reuters, due to the iPhone 16e launch and strong demand in Japan and India.
Best Buy (BBY), a tech retailer hard hit by tariffs, jumped over 8%, while Dell (DELL) rose 5%.
US chipmakers Nvidia (NVDA) and Micron (MU) gained 3% and 5.4%, respectively. ASML (ASML), which produces chipmaking equipment, rose 1.5%, and Swiss electronics maker Logitech (LOGI) advanced 5.7%.
From Bloomberg: