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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.Apple will report its fiscal second-quarter results on May 1, giving Chief Executive Officer Tim Cook and Chief Financial Officer Kevan Parekh an opportunity to discuss the effect of expected tariffs. During the holiday-quarter conference call, Cook said the company was assessing the impact but wouldn’t comment further.The stock market’s tariff meltdown has hit Apple especially hard. The company’s valuation fell by more than half a trillion dollars in the final two trading days of last week, and the stock suffered its worst three-day rout since the aftermath of the dot-com bubble in 2001.The company has been taking steps to prepare for the tariffs, including stocking up on inventory. In a bid to reduce the toll moving forward, Apple is steering more devices made in India to the US market, Bloomberg News has reported. The country is currently set to be taxed at a lower level than China. Apple also has spent years shifting more of its production to Vietnam, which will have a slimmer tariff than China. The company has manufactured Apple Watches, Macs, AirPods and iPads in that country. It also produces some Mac models in Ireland, Thailand and Malaysia. Apple’s flagship retail store on Fifth Avenue in New York was busy Monday afternoon. Ambar De Elia, a Buenos Aires native, is visiting New York and was already planning to get an iPhone 15 for her younger sister. But when she woke up this morning and saw the news about Wall Street, she thought now was the best time to splurge.Analysts and industry watchers have been trying to gauge the impact of a 54% China tariff on prices, with some speculating that iPhones could soon cost thousands of dollars apiece.In reality, Apple is likely to take a number of steps — including squeezing its suppliers and putting up with lower margins — to keep prices from soaring, Bloomberg News has reported. Apple’s latest flagship iPhone currently starts at $999 — a level that has remained constant since 2017.“I think everyone is here because of the fear, they don’t know what’s going to happen,” De Elia said. “If we have the possibility to buy something at a lower price of course we are going to.”One employee at the store said he wouldn’t be surprised to see the rush continue at stores over the next few days. Another worker noted that this is typically considered the off-peak season — new iPhones are released in September — but many customers are upgrading now.The surge could help bolster results in Apple’s third quarter, which runs through June. Since the company is selling the inventory it already accumulated, the impact from tariffs won’t likely be felt until the following quarter.

Shares of Bharat Electronics (BEL) rose 5.3% to an intraday high of Rs 287.85 on BSE on Tuesday after the defence PSU secured a significant order worth Rs 2,210 crore (excluding taxes) from the Ministry of Defence. The contract is for the supply of state-of-the-art Electronic Warfare (EW) suites for the Indian Air Force’s Mi-17V5 helicopters.The advanced EW suite has been indigenously designed by DRDO’s Centre for Airborne Systems and Integrated Defence Combat Systems (CASDIC), and will be manufactured by BEL. The system includes a Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS), and Counter Measure Dispensing System (CMDS), aimed at enhancing helicopter survivability by detecting and countering radar and missile threats.This order marks a strategic boost to India’s defence indigenisation efforts and strengthens BEL’s long-standing role in supporting the armed forces. With this contract, BEL’s total order intake in FY25 has risen to Rs 2,803 crore.Earlier, on April 1, BEL reported total orders worth Rs 18,715 crore for FY25, short of its Rs 25,000 crore guidance. However, it recorded a provisional turnover of Rs 23,000 crore for FY24—up 16% from Rs 19,820 crore in the previous year, beating its revenue growth target of 15%.Key orders received during the year included the BMP II Upgrade, Ashwini Radar, Software Defined Radios, Data Links, Multi-Function Radars, and EON 51, along with projects in the non-defence sector.Also Read: From Ambani to Adani: India's 4 richest billionaires lose over $10 billion in bloody Monday market crashBEL shares price targetAs per Trendlyne data, the average target price of the stock is Rs 337, which shows an upside of 24% from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'.Technically, the stock’s Relative Strength Index (RSI) is at 41.9. An RSI below 30 signals oversold conditions, while above 70 indicates overbought territory. The stock’s MACD stands at 5.9, above the center line but below the signal line. BEL shares are currently trading below all key short- and long-term moving averages, including the 5-day to 200-day simple moving averages (SMAs).BEL shares price performanceOn Monday, BEL shares closed at Rs 273.1 on the BSE, down 2.5%, while the benchmark Sensex declined 1.95%. The stock is down 7% year-to-date but has gained 176% over the past two years. Its market capitalisation currently stands at Rs 1.99 lakh crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)

Stock markets crumbled on Monday with benchmark Sensex sinking by 2,226.79 points – its steepest single-day decline in 10 months – as a global market carnage following US President Donald Trump's tariff hikes and retaliation from China.Stocks that were in focus include names like Trent, which fell 14% and Hindalco, which declined 6% and Siemens, whose shares fell 4% on Monday.Here's what Viral Chheda, Sr Analyst SSJ Finance and Securities, recommends investors should do with these stocks when the market resumes trading today.TrentAfter making an all time high around 8345 in Nov 2024, stock has witnessed a Bear Run to make the 52 week low of 4488 odd levels. Price has given almost 46% downside move from its higher level of 8345 odd levels as bears were having upper hand over price.The stock is currently trading below its previous lower level of 4715 and with rise in volume we can see further dip till 4200-3900 odd levels. Currently stock is in bearish trend and any upside move from here can be an opportunity to exit from the stock. At this level it is a no buy zone and if anybody wants to buy can wait for the dips till 4200. For long term stock is good and can be bought at every dip. Hence at current level one should avoid buying at current level and can sell the stock at every rise.HindalcoAfter making an all time high around 773 in Oct 2024, stock has witnessed a Bear Run to make the low of 546 odd levels. Price has given almost 30% downside move from its higher level of 773 odd levels as sellers were having full control over price.At higher level stock has made a Head and Shoulders Pattern with neckline making around 570 odd levels. As the price is currently moving below its neckline level we can see further dip till 500-460 levels.The stock is in bearish trend and any upside move from here can be an opportunity to exit from the stock. At current level we should avoid buy and can be bought at every dip till 500. For long term stock is good and can be bought at every dip. Hence at current level one should avoid buying at current level and can sell the stock at every rise.SiemensAfter making triple top around 8100 in Oct 2024, stock has witnessed a Bear Run to make the 2 years low of 2450 odd levels. Price has given almost 70% downside move from its higher level of 8100 odd levels as bears were having upper hand over price. IN current week we have seen 50% correction as there is a Spin OFF in the stock making the price half of the previous day's closing level.The stock has strong support around 2400-2200, making it a good buying zone for the long term. One can buy this stock if the price comes near its range of support or within the range. On the higher side we can see the price to go up till 3500-3800 in the coming 10-12 months.Hence one can buy at dips of 2600 and further more at dips of 2400 with stop loss of 2200 on weekly closing basis and upside can be seen till 3500-3800 in the coming 10-12 months.

Harvard University plans to borrow $750 million from Wall Street amid mounting threats to its federal funding from the Trump administration. “As part of ongoing contingency planning for a range of financial circumstances, Harvard is evaluating resources needed to advance its academic and research priorities,” a spokesperson for Harvard said in an emailed statement on Monday when asked about the bond sale. The debt will be taxable, and proceeds will be used for general corporate-purposes, according to bond documents. Goldman Sachs Group Inc. is the sole bookrunner on the transaction.ALSO READ: Harvard University says ‘routine review’ revealed five cases of visa revocations Schools across the US are bracing for potential funding hits after President Donald Trump escalated scrutiny of colleges accused of mishandling allegations of antisemitism on campuses, threatening to revoke billions of dollars in federal aid. The administration has frozen funding for Columbia and Princeton universities, while Harvard faces potential losses of as much as $9 billion in grants and contracts unless it complies with a list of federal demands.ALSO READ: Harvard threatened by Trump with $9 billion of funds at riskTo prepare for the uncertainty, some schools have tapped short-term borrowing to preserve cash. Selling taxable bonds, which have a more flexible use of proceeds than traditional tax-exempt debt, is another option to shore up liquidity. ALSO READ: Harvard University to make tuition free for more studentsFor colleges, it’s a “strategic and very fiscally astute decision to shore up any liquidity that they have due to the extreme uncertainty,” said Lisa Washburn, a managing director at Municipal Market Analytics. She said she wouldn’t be surprised to see more colleges tap the taxable market. Princeton University is also considering the sale of taxable bonds. The school announced last week that US government agencies have suspended dozens of its research grants. Harvard warned investors about the federal funding threat in its bond documents. Federally-Sponsored Research Makes Up 11% of Harvard's Revenue | Operating revenues by type for the fiscal year ending June 30, 2024“While the financial impact on the university of any developments at the federal level cannot be quantified at this time, they may, directly or indirectly, have a material adverse effect on the current and future financial profile and operating performance of the university,” Harvard said in its bond documents dated April 6. While Harvard is the richest US college with a $53 billion endowment, it’s highly dependent on federal funding, especially for its research operation. In offering documents, the school said it has historically received “substantial” support for research from Washington, a sum that totaled 11% of operating revenues in the fiscal year that ended June 30.