Stock Movers: Trump Tariffs Hit Apple, Deckers & Ross Stores Face Uncertainty

Apple Faces Trump's Tariff Threat

• 🍎 Apple shares saw a significant drop, as President Donald Trump threatened 25% tariffs if iPhones are not manufactured in the US.
• 💡 Trump communicated his expectation to Tim Cook that iPhone production should be US-based, shifting focus away from countries like India.
• 🎯 This move is part of Trump's broader initiative to boost domestic manufacturing jobs.

Retailers Grapple with Forecasts and Tariffs

• 👟 Deckers Outdoor, owner of Hoka and UGG, experienced a sharp decline after issuing a disappointing first-quarter forecast.
• 📉 The company declined to provide full-year guidance due to macroeconomic uncertainty and evolving global trade policies.
• 📦 Ross Stores, a discount retailer, also saw its shares fall after its second-quarter earnings per share forecast missed analyst estimates.
• ⚠️ Ross Stores withdrew its full-year sales and earnings guidance, citing heightened macroeconomic and geopolitical uncertainty and potential tariff-related costs.

Intuit Beats Expectations

• 📈 Intuit shares rose in extended trading following strong third-quarter results that exceeded expectations.
• 🚀 The tax-preparation software company also raised its full-year forecast, signaling positive performance.