周五盘中，惠普（HPQ）股价大跌5%，引发市场关注。这一跌幅很可能与特朗普政府最新宣布的关税政策有关，该政策预计将对美国科技硬件产业造成严重打击。
根据摩根士丹利最新研报，特朗普政府的"对等关税"政策将使销往美国的科技产品面临25%-54%的关税。这对严重依赖海外生产基地的美国科技硬件企业，如惠普、戴尔、苹果等公司，将造成巨大冲击。研报指出，惠普已将运往美国的笔记本电脑生产转移到泰国，而根据白宫公布的数据，美国将对泰国进口商品征收36%的关税。
摩根士丹利估计，这些新关税将给包括惠普在内的科技硬件企业带来约510亿美元的额外成本，相当于这些公司利润的30%。对惠普而言，情况尤为严峻，关税成本可能几乎等同于其2025年的预期利润。面对即将于下周三凌晨生效的关税，科技硬件企业几乎没有有效的应对措施。分析认为，提高产品价格可能是最现实的选择，但这inevitably将对市场需求产生负面影响。投资者对这一前景感到担忧，导致惠普股价大幅下跌。
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