免除部分“对等关税”！刚刚，美国宣布！

Core Viewpoint - The recent exemption of smartphones and computers from Trump's "reciprocal tariffs" policy is seen as a significant development for the tech industry, potentially alleviating some cost pressures on companies like Apple [2][4][8]. Group 1: Tariff Exemptions - The new guidelines from U.S. Customs exempt smartphones, computers, and other electronic devices from the "reciprocal tariffs" policy [2][6]. - Other exempted items include semiconductors, solar cells, flat-screen displays, flash drives, storage cards, and solid-state drives [3][6]. - The exemptions apply to all countries affected by the "reciprocal tariffs" [3][7]. Group 2: Impact on Apple and the Tech Industry - Analysts warn that if Apple were to move iPhone production entirely to the U.S., costs could increase by 90%, primarily due to higher labor costs and logistical challenges [4][12]. - A report from Bank of America indicates that the cost of iPhone production could rise by 25% due to U.S. labor costs alone, with additional costs from tariffs on imported components [12]. - Dan Ives from Wedbush Securities predicts that 15%-20% of capital expenditures in the U.S. tech sector have been automatically paused due to uncertainty surrounding the tariffs [15]. Group 3: Investment Recommendations - Ives suggests that investors should consider more defensive tech stocks, such as Microsoft and Meta, which are less exposed to tariff risks [18][19]. - He expresses skepticism about Nvidia's future earnings growth and advises caution regarding Google's long-term prospects unless breakthroughs in AI are achieved [18]. - Despite challenges, Amazon's AWS cloud computing business remains a bright spot, even as its retail operations face difficulties [18].