Trump Tariffs News Live: Big Tech’s ‘Magnificent Seven’ heads into earnings season reeling from Trump turbulence
Big Tech is entering its quarterly earnings season under a cloud of uncertainty, just 100 days after Donald Trump returned to the White House. When leaders like Tim Cook, Elon Musk, Sundar Pichai, and others backed Trump’s return, they expected business-friendly policies. Instead, they’ve faced trade turmoil, lawsuits, and major financial losses.
Since Trump’s January 20 inauguration, the combined market value of the top seven tech giants—Apple, Microsoft, Nvidia, Amazon, Tesla, Google (Alphabet), and Meta—has dropped by $3.8 trillion, or 22%. This steep decline is largely due to Trump’s aggressive tariff policies, especially those targeting supply chains tied to China. While there’s been a temporary pause on some of the harshest tariffs, the threat still looms.
At the same time, the administration is continuing antitrust actions launched under President Biden. Meta is facing monopoly allegations, Google may be forced to split its search business, and lawsuits are still active against Apple and Amazon. Meanwhile, Nvidia took a $5.5 billion loss after being banned from selling a popular AI chip to China.
Tesla is also struggling, reporting a 13% drop in car sales, amid backlash over Musk’s prominent role in Trump’s cost-cutting agenda in Washington. The company’s full earnings report will be released Tuesday, followed by Google on Thursday. Amazon, Meta, Microsoft, and Apple will report next week. Nvidia will wrap up the season with its results on May 28.
Analysts say the constant policy changes from the White House are creating chaos for the tech industry, making it difficult to manage supply chains, predict demand, or maintain investor confidence.
