Apple continues its decline, dropping 3.7% on Monday amid concerns over the impact of President Trump's tariffs. In just three days, Apple stock has fallen a total of 19%, wiping out $638 billion in market capitalization. As one of the companies most vulnerable to a trade war due to its dependence on China—which faces a 54% tariff—Apple may be forced to raise iPhone prices or accept lower profits. The high-end iPhone could rise by $350 (around 30%). Although Apple has factories in India, Vietnam, and Thailand, those countries are also subject to high tariffs under Trump’s sweeping trade plan.