US big tech caught by surprise by the magnitude of Trump's tariffs

Investment bank Morgan Stanley believes that the CEOs of US big tech were unprepared for how steep Trump's tariffs ended up being, and will now — probably unsuccessfully — try to persuade him to make changes.An Apple Store logoMorgan Stanley previously estimated that Apple will take a $33 billion hit to its bottom line because of Trump's tariffs. In a note to investors seen by AppleInsider, Morgan Stanley's analysts confirm that Apple has it bad — but its analysts now predict that for Dell and HP, the loss will be close to the entirety of their expected net income in 2025.The analysts further believe that technology hardware executives didn't anticipate that the tariffs would be as ruinous as they are. Consequently, the industry's most influential business leaders like Tim Cook, Satya Nadella, and Mark Zuckerberg will surely attempt to lobby and negotiate with the current administration. Continue Reading on AppleInsider | Discuss on our Forums