By Chelsey Dulaney
The Magnificent Seven's $1.6 trillion wipeout underscores how dependent the group of once-highflying tech companies are on free trade.
Five of the seven earn the majority of their revenues from abroad, according to FactSet.
Trump's trade policy pose a variety of risks to their overseas operations. Amazon and Meta, for example, are vulnerable to a pullback by Chinese e-commerce businesses in the U.S.
Retaliation also looms large over the sector. French President Emmanuel Macron said this week that the European Union is considering retaliating against U.S. digital services--i.e. its tech giants--as well as imposing tariffs on the U.S.
Apple, already facing higher costs on hardware it sources from overseas, could also get hit by China's retaliatory tariffs on U.S. goods.
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(END) Dow Jones Newswires
April 05, 2025 08:40 ET (12:40 GMT)
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