Close Menu
TechCentralTechCentral

    Subscribe to the newsletter

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Facebook X (Twitter) YouTube LinkedIn
    WhatsApp Facebook X (Twitter) LinkedIn YouTube
    TechCentralTechCentral
    • News
      Vuyani Jarana: Mobile coverage masks a deeper broadband failure

      Vuyani Jarana: Mobile coverage masks a deeper broadband failure

      30 January 2026
      SABC Plus to flight Microsoft AI training videos

      SABC Plus to flight Microsoft AI training videos

      30 January 2026
      Fibre ducts

      Fibre industry consolidation in KZN

      30 January 2026
      Watts & Wheels S1E3: 'BYD's Corolla Cross challenger'

      Watts & Wheels S1E3: ‘BYD’s Corolla Cross challenger’

      30 January 2026
      What ordinary South Africans really think of AI

      What ordinary South Africans really think of AI

      30 January 2026
    • World
      Apple acquires audio AI start-up Q.ai

      Apple acquires audio AI start-up Q.ai

      30 January 2026
      SpaceX IPO may be largest in history

      SpaceX IPO may be largest in history

      28 January 2026
      Nvidia throws AI at the weather

      Nvidia throws AI at weather forecasting

      27 January 2026
      Debate erupts over value of in-flight Wi-Fi

      Debate erupts over value of in-flight Wi-Fi

      26 January 2026
      Intel takes another hit - Intel CEO Lip-Bu Tan. Laure Andrillon/Reuters

      Intel takes another hit

      23 January 2026
    • In-depth
      How liberalisation is rewiring South Africa's power sector

      How liberalisation is rewiring South Africa’s power sector

      21 January 2026
      The top-performing South African tech shares of 2025

      The top-performing South African tech shares of 2025

      12 January 2026
      Digital authoritarianism grows as African states normalise internet blackouts

      Digital authoritarianism grows as African states normalise internet blackouts

      19 December 2025
      TechCentral's South African Newsmakers of 2025

      TechCentral’s South African Newsmakers of 2025

      18 December 2025
      Black Friday goes digital in South Africa as online spending surges to record high

      Black Friday goes digital in South Africa as online spending surges to record high

      4 December 2025
    • TCS
      TCS+ | How Cloud On Demand is helping SA businesses succeed in the cloud - Xhenia Rhode, Dion Kalicharan

      TCS+ | Cloud On Demand and Consnet: inside a real-world AWS partner success story

      30 January 2026
      Watts & Wheels S1E3: 'BYD's Corolla Cross challenger'

      Watts & Wheels S1E2: ‘China attacks, BMW digs in, Toyota’s sublime supercar’

      23 January 2026

      TCS+ | Why cybersecurity is becoming a competitive advantage for SA businesses

      20 January 2026
      Watts & Wheels S1E3: 'BYD's Corolla Cross challenger'

      Watts & Wheels: S1E1 – ‘William, Prince of Wheels’

      8 January 2026
      TCS+ | Africa's digital transformation - unlocking AI through cloud and culture - Cliff de Wit Accelera Digital Group

      TCS+ | Cloud without culture won’t deliver AI: Accelera’s Cliff de Wit

      12 December 2025
    • Opinion
      South Africa's skills advantage is being overlooked at home - Richard Firth

      South Africa’s skills advantage is being overlooked at home

      29 January 2026
      Why Elon Musk's Starlink is a 'hard no' for me - Songezo Zibi

      Why Elon Musk’s Starlink is a ‘hard no’ for me

      26 January 2026
      South Africa's new fibre broadband battle - Duncan McLeod

      South Africa’s new fibre broadband battle

      20 January 2026
      AI moves from pilots to production in South African companies - Nazia Pillay SAP

      AI moves from pilots to production in South African companies

      20 January 2026
      South Africa's new fibre broadband battle - Duncan McLeod

      ANC’s attack on Solly Malatsi shows how BEE dogma trumps economic reality

      14 December 2025
    • Company Hubs
      • Africa Data Centres
      • AfriGIS
      • Altron Digital Business
      • Altron Document Solutions
      • Altron Group
      • Arctic Wolf
      • AvertITD
      • Braintree
      • CallMiner
      • CambriLearn
      • CYBER1 Solutions
      • Digicloud Africa
      • Digimune
      • Domains.co.za
      • ESET
      • Euphoria Telecom
      • Incredible Business
      • iONLINE
      • IQbusiness
      • Iris Network Systems
      • LSD Open
      • NEC XON
      • Netstar
      • Network Platforms
      • Next DLP
      • Ovations
      • Paracon
      • Paratus
      • Q-KON
      • SevenC
      • SkyWire
      • Solid8 Technologies
      • Telit Cinterion
      • Tenable
      • Vertiv
      • Videri Digital
      • Vodacom Business
      • Wipro
      • Workday
      • XLink
    • Sections
      • AI and machine learning
      • Banking
      • Broadcasting and Media
      • Cloud services
      • Contact centres and CX
      • Cryptocurrencies
      • Education and skills
      • Electronics and hardware
      • Energy and sustainability
      • Enterprise software
      • Financial services
      • Information security
      • Internet and connectivity
      • Internet of Things
      • Investment
      • IT services
      • Lifestyle
      • Motoring
      • Public sector
      • Retail and e-commerce
      • Satellite communications
      • Science
      • SMEs and start-ups
      • Social media
      • Talent and leadership
      • Telecoms
    • Events
    • Advertise
    TechCentralTechCentral
    Home » Sections » Investment » Tariff storm ravages tech’s ‘Magnificent Seven’

    Tariff storm ravages tech’s ‘Magnificent Seven’

    America's seven biggest tech companies have collectively shed more than $6-trillion in market value since their peak.
    By Agency Staff7 April 2025
    Twitter LinkedIn Facebook WhatsApp Email Telegram Copy Link
    News Alerts
    WhatsApp

    Tariff storm ravages tech's 'Magnificent Seven'The “Magnificent Seven” stocks sank on Monday, extending a market rout that has wiped off around US$2-trillion from their combined value as investors worry about the financial fallout of US President Donald Trump’s global tariff war.

    The latest slide followed cuts in price target for Apple and Tesla shares from one of Wall Street’s most bullish tech analysts, Dan Ives, who warned of a “tariff economic Armageddon”.

    The cuts came as Trump doubled down on tariffs on Sunday, telling investors to endure the consequences and ruling out trade talks with China for now.

    The companies have collectively shed more than $6-trillion in market value since their peak in late 2024

    Tesla shares slumped 7% to $223, leading losses among the “Magnificent Seven” — a group of high-performing tech stocks that powered Wall Street’s rally for years but whose fortunes have taken a turn for the worse in the last few months.

    The companies have collectively shed more than $6-trillion in market value since their peak in late 2024.

    Apple, Alphabet and Microsoft were trading around one-year lows, with the iPhone maker falling 4.8%, while other “Mag 7” members fell between 1.5% and 4.8%.

    The group has accounted for a large chunk of the more than $5-trillion the S&P 500 index has lost in value over the past two trading sessions.

    Wedbush analyst Ives said as a US tech company, Apple has the biggest exposure to American tariffs on Chinese goods as most iPhones are assembled in China.

    Tesla’s challenges

    He said the trade war would also deepen Tesla’s challenges as the electric car maker grapples with a growing brand crisis sparked by CEO Elon Musk’s support of President Trump and far-right politics in Europe.

    The warning underscores growing fears that tariffs could squeeze margins and disrupt supply chains at a time when several technology companies are facing scrutiny over their big AI spending.

    Read: Trump tariffs are now slamming crypto

    Ives cut his target for Tesla shares to $315 from $550, which was one of the highest on Wall Street. His new target is still nearly $100 above the stock’s latest trading price.

    On Apple, Ives slashed his target by $75 to $250, calling the tariffs “a complete disaster” for the tech giant, which may have to raise US iPhone prices to protect its lofty margins.

    Stock market crashApple had secured exemptions to US tariffs on China during Trump’s first term, but analysts are unsure if it can secure waivers this time despite announcing $500-billion in US investments over the next four years.

    The company has for years kept the starting price of its iPhone Pro model at $1 000. “The concept of making iPhones in the US is a non-starter in our view at $1 000,” Ives said in a note. “Price points would move up so dramatically it’s hard to comprehend.”

    On Tesla, which could be headed for another year of sales declines after a dismal first-quarter deliveries report, Ives said the trade tensions could push buyers in China to domestic rivals.

    Read: Trump tariffs stoke fears of a $2 300 iPhone

    “The backlash from Trump tariff policies in China and Musk’s association will be hard to understate and this will further drive Chinese consumers to buy domestic brands such as BYD,” he said in a note published separately.  — Aditya Soni, (c) 2025 Reuters

    Get breaking news from TechCentral on WhatsApp. Sign up here.

    Don’t miss:

    Rand hits 18-month low



    Alphabet Apple Microsoft
    WhatsApp YouTube Follow on Google News Add as preferred source on Google
    Share. Facebook Twitter LinkedIn WhatsApp Telegram Email Copy Link
    Previous ArticleShark attack! We drive BYD’s electrifying new bakkie
    Next Article Ham radio turns 100 in South Africa

    Related Posts

    SABC Plus to flight Microsoft AI training videos

    SABC Plus to flight Microsoft AI training videos

    30 January 2026
    Apple acquires audio AI start-up Q.ai

    Apple acquires audio AI start-up Q.ai

    30 January 2026
    Cloud adoption the weak link in SA's digital government push: Microsoft - Vukani Mngxati

    Cloud adoption the weak link in SA’s digital government push: Microsoft

    29 January 2026
    Company News
    Huawei turns 25 in South Africa, celebrates with major device discounts

    Huawei turns 25 in South Africa, celebrates with major device discounts

    30 January 2026
    Phishing has not disappeared, but it has grown up - KnowBe4

    Phishing has not disappeared, but it has grown up

    30 January 2026
    Smartphone affordability: South Africa's new economic divide - PayJoy

    Smartphone affordability: South Africa’s new economic divide

    29 January 2026
    Opinion
    South Africa's skills advantage is being overlooked at home - Richard Firth

    South Africa’s skills advantage is being overlooked at home

    29 January 2026
    Why Elon Musk's Starlink is a 'hard no' for me - Songezo Zibi

    Why Elon Musk’s Starlink is a ‘hard no’ for me

    26 January 2026
    South Africa's new fibre broadband battle - Duncan McLeod

    South Africa’s new fibre broadband battle

    20 January 2026

    Subscribe to Updates

    Get the best South African technology news and analysis delivered to your e-mail inbox every morning.

    Latest Posts
    Vuyani Jarana: Mobile coverage masks a deeper broadband failure

    Vuyani Jarana: Mobile coverage masks a deeper broadband failure

    30 January 2026
    TCS+ | How Cloud On Demand is helping SA businesses succeed in the cloud - Xhenia Rhode, Dion Kalicharan

    TCS+ | Cloud On Demand and Consnet: inside a real-world AWS partner success story

    30 January 2026
    Huawei turns 25 in South Africa, celebrates with major device discounts

    Huawei turns 25 in South Africa, celebrates with major device discounts

    30 January 2026
    SABC Plus to flight Microsoft AI training videos

    SABC Plus to flight Microsoft AI training videos

    30 January 2026
    © 2009 - 2026 NewsCentral Media
    • Cookie policy (ZA)
    • TechCentral – privacy and Popia

    Type above and press Enter to search. Press Esc to cancel.

    Manage consent

    TechCentral uses cookies to enhance its offerings. Consenting to these technologies allows us to serve you better. Not consenting or withdrawing consent may adversely affect certain features and functions of the website.

    Functional Always active
    The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
    Preferences
    The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
    Statistics
    The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
    Marketing
    The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
    • Manage options
    • Manage services
    • Manage {vendor_count} vendors
    • Read more about these purposes
    View preferences
    • {title}
    • {title}
    • {title}