Apple has had its best stock performance since 1998. This development came right after US President Donald Trump’s sudden decision change regarding customs duties. Trump had announced that he was pausing the bilateral tariffs for 90 days in the trade war between the US and China.

Apple shares had their best day in the last 27 years

Following this decision, Apple shares gained 15 percent in value. The company’s market value increased by $400 billion in one day, approaching $3 trillion. A similar increase was recorded in 1998 when Steve Jobs returned as interim CEO.

Apple had become one of the biggest victims of the trade wars. Especially its production facilities in China, India, Vietnam and Thailand were directly affected by the high taxes, which caused the company’s shares to fall sharply.

However, the situation turned around after Trump’s step back. The tax rates on products imported from countries such as Vietnam and India, which are very important production bases for Apple, were reduced to 10 percent. This change has caused the company to experience significant relief on the production side.

However, the risks for Apple are not completely gone. China’s 84 percent tariff on US-origin products this week has raised concerns that the company could take a significant hit in this market.

Apple is expected to announce its second-quarter financial results on May 1. What do you think about this? You can share your views with us in the comments section below.