By Mark Gurman and Rthvika Suvarna
The Trump administration’s threat of massive new tariffs has sent Apple Inc.’s share price plummeting, but it also brought a short-term benefit: customers rushing to retail stores to buy iPhones.
Employees from different Apple locations across the country said stores filled with customers over the weekend — with the shoppers expressing concerns that prices will climb dramatically after the levies are imposed. Most iPhones, Apple’s best-selling and most important product, are manufactured in China, which is in line for tariffs of 54%.
One employee said their store was slammed with people panic-buying phones: “Almost every customer asked me if prices were going to go up soon,” said the worker, who asked not to be identified because they weren’t authorized to speak publicly.
Though stores didn’t necessarily see the kind of lines that come with an iPhone launch, the atmosphere was like the busy holiday season, employees said. “People are just rushing in worried and asking questions,” one said, adding that the company hasn’t provided guidance to stores on how to handle such inquiries.
The frenzy has translated to more purchases. Apple’s US retail stores saw higher sales over this past weekend than in prior years in at least some major markets, according to a person with knowledge of the matter. An Apple spokesperson declined to comment.
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