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Raymond James on Apple (AAPL): 'Assessing the Tariff Impact', 'we see the risk of demand destruction'

April 3, 2025 10:16 AM EDT

Raymond James analyst Srini Pajjuri reiterated an Outperform rating and $250.00 price target on Apple (NASDAQ: AAPL).

The analyst comments "Apple faces significant reciprocal tariffs as >90% of its hardware products are manufactured outside the U.S. The majority of AAPL products are made in China, which faces 54% tariffs (34% rate + prior 20% rate). A portion of hardware is also manufactured in India, which faces... More