Wedbush Securities analyst Dan Ives has issued a stark warning for investors, slashing his price targets for both Apple and Tesla in response to President Trump’s new tariff policy, which he says could heavily disrupt both companies.
“The tariff economic Armageddon unleashed by Trump is a complete disaster for Apple given its massive China production exposure,” Ives wrote in a note over the weekend. “In our view, no U.S. tech company is more negatively impacted by these tariffs than Apple, with 90% of iPhones produced and assembled in China.”
As a result, Wedbush has lowered its price target for Apple stock by $75 — bringing it down to $250 per share. Apple’s shares have dropped 4.3% today and are currently trading around $180.
Tesla was also hit with a downgrade. Ives slashed Tesla’s target price from $550 to $315, still significantly above its current trading price of $233.94 (as of 2:10 p.m. ET).
But tariffs aren’t the only reason for Tesla’s lowered outlook. Ives citedas a growing liability. Musk’s alignment with Trump and his trade policies has sparked backlash, weakening Tesla’s appeal in the U.S., Europe, and especially in China, where rising nationalism could push consumers toward domestic EV makers like BYD.
“Tesla has essentially become a political symbol globally,” Ives said. “It is time for Musk to step up, read the room, and be a leader in this time of uncertainty.”
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