Goldman Sachs analysts swiftly raised their earnings forecasts for top U.S. tech giants after a surprise weekend decision from the White House shielded key electronics from steep new tariffs on Chinese imports.
In a note shared Monday, analyst Michael Ng said U.S. Customs and Border Protection issued guidance late Friday clarifying that 20 tech product categories—including smartphones, servers, routers, solid-state drives and semiconductor equipment—would be exempt from the sweeping 125% tariffs imposed on Chinese goods.
The exemptions apply retroactively to April 5 and may soften the blow for key hardware manufacturers facing escalating trade tensions.
Apple, Dell, HP Get A Reprieve
Goldman Sachs reversed recent estimate cuts on Apple Inc. (NASDAQ:AAPL), Dell Technologies Inc. (NYSE:DELL), Hewlett Packard Enterprise Co. (NYSE:HPE) and HP Inc. (NYSE:HPQ).
“These adjustments largely reverse the estimate cuts we made on April 7,” Ng said, tying the swing directly to the reversal in tariff policy.
Thanks to improved gross margins, Goldman now sees stronger profitability ahead for these firms.
According …