Shares of Apple (AAPL, Financial), Dell Technologies (DELL, Financial), and other large-cap tech firms climbed on Monday morning after U.S. authorities paused tariffs on smartphones, computers and related consumer electronics.
The temporary reprieve follows comments from Commerce Secretary Howard Lutnick, who noted over the weekend that the exemption could be short-lived as officials reassess sector-specific trade policies.
JPMorgan analysts called the move “a big relief” for Apple, which manufactures a large portion of its hardware in China. The firm expects Apple to hasten its production diversification efforts, citing India and Vietnam as key locations for iPhone and accessories assembly.
Apple's shares rose more than 4% Monday morning after leading gains Friday, though the stock remains down over 15% year-to-date.
Dell, which relies heavily on overseas manufacturing, jumped 6% on Monday. Analysts highlighted the pause as reflecting the "weight of large U.S. companies" in policy decisions.
Chipmakers including Nvidia (NVDA, Financial), Intel (INTC, Financial), Qualcomm (QCOM, Financial), and Broadcom (AVGO, Financial) also edged higher on expectations that tariff delays could support near-term sector margins.
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