According to Golden Finance, after US President Trump announced the "reciprocal tariff" plan, Apple's stock price suffered a heavy drop in two consecutive trading days and its market value shrank significantly. According to estimates by investment bank Morgan Stanley, the imposition of tariffs on China will increase Apple's costs by about $8.5 billion a year. Reuters quoted analysts as saying that if Apple passes all tariff costs on consumers, the retail price of the iPhone 16 Pro Max in the United States will rise from the current $1,599 to $2,300 (about 16,750 yuan). During Trump's first term, Apple began to promote supply chain diversification, but the Trump administration's plan to impose high "reciprocal tariffs" on Southeast Asian countries will undoubtedly hit Apple's supply chain hard.