Trump’s Tariffs Cost Apple $640 Billion In Just Three Days

While the broader stock market showed signs of recovery on Monday, Apple took another major hit, shedding 3.7% as concerns mounted over the impact of President Donald Trump’s new tariffs.

Key Facts

Apple’s stock has plunged 19% in just three days, wiping out $638 billion in market capitalization.
The company is among the most vulnerable in the ongoing trade war, with a 54% tariff on China-made products directly affecting its supply chain.
Despite manufacturing expansions in India, Vietnam, and Thailand, these regions are also impacted by Trump’s sweeping tariff plan.
Among tech giants, Apple is struggling the most—Microsoft and Tesla also saw losses, but other mega-cap stocks remained steady.

The Bigger Picture

The Nasdaq rebounded slightly on Monday after its worst week in over five years, but analysts warn Apple faces tough choices. The company will either have to raise prices or absorb higher costs once the tariffs take effect.

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UBS analysts estimate that Apple’s most expensive iPhone could see a $350 price hike—a 30% increase from its current $1,199 price tag. Barclays’ Tim Long predicts that unless Apple adjusts pricing, its earnings per share could drop by as much as 15%. The company may restructure its supply chain to reduce reliance on high-tariff imports.

Short-Term Shock, Long-Term Uncertainty

While tariffs sent Apple’s stock tumbling, they also triggered a buying frenzy. Over the weekend, Apple stores across the U.S. saw a surge in customers rushing to buy iPhones, fearing significant price hikes. Employees reported packed stores as shoppers anticipated higher costs, according to Bloomberg.

With mounting pressure on profitability, supply chains, and consumer demand, Apple faces a critical period ahead.

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Delayed Cyprus Fuel Terminal Adds €1.67 Million To 2026 Budget Allocation

by THEFUTURE.TEAM

November 6, 2026

A delay in completing Cyprus’ strategic petroleum-products terminal has shifted €1.67 million in expected payments into the 2026 budget, prompting a revised budget allocation for the state’s fuel-storage organization, CODAP. The project was completed on June 30, 2026, later than the December 2025 handover originally anticipated.

The change in timing has altered the project’s payment schedule, but it will not increase CODAP’s overall 2026 budget of €111.3 million. After contractual deductions for the delay, payments to the contractor are expected to total €48.2 million, compared with the original contract value of €51 million.

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Why The Budget Is Being Revised

When CODAP prepared its 2026 budget in June 2025, it expected construction to finish by the end of that year. The organization therefore forecast that the main payments to the contractor would be made during 2025 and included lower construction funding in its 2026 budget.

But delays by the contractor pushed completion to June 30, 2026. As a result, payments that had been expected earlier must now be covered through a budget amendment. The revised allocation will be discussed by Parliament’s Finance Committee on Friday.

Of the €1.67 million adjustment, €1.27 million relates to the first half of the contractor’s retention payment, which is payable upon handover under the contract. The remaining half is due 24 months after delivery.

A further €250,000 is set aside for work that has not yet been certified. The contractor is expected to complete these non-critical items during 2026. Another €150,000 covers payments to the project’s engineering consultants, whose fees are linked to construction progress and completion.

Contractual Deductions Reduce The Final Cost

CODAP withheld €1.27 million from the contractor in 2025 because of the late delivery. The deduction represents the maximum penalty stipulated in the contract: 2.5% of the contract value, applied in response to the delay against the agreed construction period of 24 months.

After accounting for that deduction and the scheduled retention payment, the total amount expected to be paid to the contractor is €48.2 million—below the original €51 million contract price.

A Critical Part Of Cyprus’ Fuel Reserves

The terminal is located at the Vasilikos Energy Centre and has seven petroleum-product storage tanks. It holds most of Cyprus’ fuel reserves, which are intended to help protect the country against supply disruptions.

Countries are required to maintain fuel stocks equivalent to 90 days of consumption. Those reserves must remain available for release to the market if supply problems arise, making the terminal a key part of Cyprus’ energy-security infrastructure.

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