Donald Trump's victory in the election had a significant effect on the stock market, particularly in the tech sector. Let's delve into the winners and losers among Big Tech companies based on the market's response to Trump's win.
Apple's Potential Challenges
Apple seems to be facing potential challenges following Trump's win, especially with his proposed tariffs on Chinese goods. The majority of Apple's iPhones are manufactured in China, raising concerns about the impact of stricter tariffs on the company's operations.
Tesla Leading the Pack
Tesla emerged as a top performer in the market after Trump's victory. CEO Elon Musk's support for Trump's reelection bid played a significant role in Tesla's positive market performance. Musk's endorsement of Trump could provide Tesla with a competitive edge, given its successful scale and profitability in the electric vehicle market.
Google's Surprising Gains
Despite Trump's past criticism of Google, the tech giant experienced notable gains in the market following the election. Trump's potential rollbacks on regulations could benefit Google, particularly with its autonomous driving subsidiary Waymo. Lighter antitrust enforcement under Trump's administration might also work in Google's favor.
Meta's Uncertain Future
Meta, formerly known as Facebook, faced challenges in the market post-Trump's win. Trump's adversarial stance towards CEO Mark Zuckerberg and Big Tech in general could create uncertainties for Meta's future performance. Political overhang and regulatory concerns may impact Meta's stock value in the coming days.
Other Big Tech Players
Amazon could potentially face pressure on margins due to proposed Chinese tariffs, serving as a "shock absorber for the consumer." On the other hand, Microsoft appears to be less impacted by political changes and new policies in the near term, as per analyst assessments.
Overall, Trump's win has reshaped the landscape for Big Tech companies, with winners and losers emerging based on their market responses and potential challenges ahead.
—————————————————————————————————————————————
By: insider@insider.com (Alistair Barr)
Title: Impact of Donald Trump’s Win on Big Tech: Winners and Losers Revealed
Sourced From: www.businessinsider.com/big-tech-winners-losers-trump-election-win-according-to-market-2024-11
Published Date: Thu, 07 Nov 2024 23:48:38 +0000
Leave a Reply