Apple leads surge in global tech shares after Trump tariff relief

By , and August 7, 2025 1:58 PM UTC Updated August 7, 2025

U.S. President Donald Trump speaks as he and Apple CEO Tim Cook present Apple's announcement of a $100 billion investment in U.S. manufacturing, in the Oval Office at the White House in Washington, D.C., U.S., August 6, 2025. REUTERS/Jonathan Ernst/File photo

Summary

Companies

Samsung, SK Hynix spared from 100% tariffs, says South Korea

Trump announces $100 billion new investment pledge from Apple

Malaysia eyes chip tariff details, risks losing major market

Zoom In Aug 7 (Reuters) - Global technology stocks advanced on Thursday in a relief rally after the latest tariff salvo from U.S. President Donald Trump largely exempted industry heavyweights from his threat to impose 100% levy on chips and semiconductors. Trump said the would apply to "all chips and semiconductors coming into the United States," but would not apply to companies that had made a commitment to manufacture in the U.S. or were in the process of doing so. The Reuters Daily Briefing newsletter provides all the news you need to start your day. Sign up

Apple stock rose 2%, clawing back most of its losses since the Liberation Day selloff back in April, after on Wednesday that the company will invest an additional $100 billion in the U.S., a move that could help it sidestep potential tariffs on iPhones. Semiconductor manufacturing equipment supplier Applied Materials and chipmakers Texas Instruments , GlobalFoundries and Broadcom - Apple's partners in the investment effort - climbed between 1.3% and 5.5%. Other U.S.-listed chipmakers also rose, with Advanced Micro Devices up 3.1% and Nvidia 1.4%, respectively.

"From a high level, the 100% headline number seems intimidating, but in practice we expect a much lower impact," BofA Global Research analysts led by Vivek Arya said in a note. Intel , however, fell 1.4% after Trump called for the of Intel's new CEO, Lip-Bu Tan. European chipmakers also joined the rally, with ASML and ASMI up more than 3% each. BE Semiconductor Industries climbed 4.7%. J.P.Morgan analysts expect the proposed 100% semiconductor tariff would not be stacked on top of the 15% baseline tariff agreed between the European Union and the U.S. . According to EU officials, the framework trade deal will have zero-for-zero tariffs on semiconductor-making equipment. Germany's Infineon said it could not speculate on possible semiconductor tariffs, as no details have been disclosed yet. Its shares were up 0.9%.

Trump's latest on semiconductor tariffs seemingly rules out Taiwanese chip contract manufacturer TSMC , which makes chips for most U.S. companies, including Nvidia, as it has factories in the U.S. "The market remains keen to buy TSMC on dips. Investors also believe they need to remain positioned in AI - with or without tariffs," UBS analysts said. TSMC shares closed almost 5% higher to hit all-time highs, while Samsung Electronics and SK Hynix climbed 2.5% and 1.4%, respectively. South Korea's Samsung and SK Hynix will also to 100% tariffs on chips, the country's top trade envoy said. Samsung has invested in two chip fabrication plants in Austin and Taylor, Texas, while SK Hynix has announced plans to build an advanced chip packaging plant and research and development facility for artificial intelligence products in Indiana.

Since stepping into the White House in January, Donald Trump has made several tariff threats, specifically on semiconductors, aimed at reshaping the supply chain of the industry and spurring domestic production. "The (100% tariff) figure fits Trump's approach of 'open high, negotiate down' and the final figure could be similar to reciprocal tariffs to limit inflation in consumer goods, given that many have chips," said Phelix Lee, senior equity analyst at Morningstar. Not everyone has come out of the latest blitz on the right side, with the Philippines and Malaysia looking to find out more details about the tariff rate. Dan Lachica, the president of the trade body for the Philippine semiconductor industry, said 70% of its electronics exports are semiconductors and the new tariff rate would be "devastating". Philippine stocks were down 0.1% after falling as much as 0.9% during the day. Malaysia's trade minister said the country has reached out to U.S. counterparts for clarity on the tariffs.

Apple leads surge in global tech shares after Trump tariff relief

Global technology stocks rose following U.S. President Donald Trump's announcement of a $100 billion investment pledge by Apple to U.S. manufacturing, which partially exempted industry heavyweights from potential 100% tariffs on chips and semiconductors. Apple's investment could help it avoid tariffs on iPhones, while semiconductor manufacturers like Applied Materials and Texas Instruments saw gains. TSMC and Samsung also saw price increases, though South Korea and Malaysia expressed concerns over potential tariffs.