By coinnews 
00:00 Speaker A
It’s now time for some of today’s trending tickers. We are watching Stellantis, Apple, and Intuit. First up, shares of Stellantis falling after President Trump calls for a 50% tariff on the European Union. The automaker behind both European and American car brands, including Chrysler, Dodge, Fiat, Maserati, falling on the news by about 5% here. The president saying he wants to see the EU tariffs go into effect as soon as June 1st in a post on Truth Social. His exact words, I believe, saying that the European Union, which was formed for the primary purpose of taking advantage of the United States on trade, has been very difficult to deal with. Our discussions with them are going nowhere. There you see the post on your screen, and we will see ultimately if these, if these calls for a tariff, additional tariff do go into effect here.
00:58 Speaker B
Yeah, and of course, this comes after Stellantis earlier this month reporting first quarter sales falling 14% here compared with the same period of the year prior. And they did say they would not make any predictions about profits for the year to come, given the concerns about tariffs. I should also note the company does report profits every six months rather than quarterly. But still, they are the latest automaker to say, “We don’t want to forecast to investors where things are heading, given the uncertainty with regard to tariff policy.” I think an uncertainty that investors had started to somewhat get complacent about when we saw markets kind of continuing to grind higher, even though we did not have any deals with any countries that the United States put increased tariffs on. And now we have yet another tariff potentially slapped on the EU.
01:48 Speaker A
You know, one other facet of this, and I know we’re taking a look at Stellantis, I don’t know if we can pull up Tesla shares real quick here, because pre-market that was moving lower. Tesla also has a little bit of an exposure to this. Of course, they have Giga factory Berlin, but there are still parts that actually get shipped into that factory in order to make sure that they can then manufacture and produce a finished vehicle to then ship out either to people that are within the EU, customers within the EU, or elsewhere. And so that is something that, if we continue to see even more of a ratcheting higher of some of the tariff rates between the US and the EU, could also have an outsized or overarching impact on Tesla as well here. Uh you’re seeing shares pre-market, at least right now, down by about 1 and a quarter percent.
02:48 Speaker B
Pain for all the automakers. But next, President Trump saying on social media, 25% or higher tariff must be paid by Apple on all internationally produced iPhones. The announcement sending shares of Apple lower. While Apple’s iPhones are primarily produced in China, the company has shifted more production to India amid trade tensions. Wedbush’s Dan Ives this morning reiterating his call that a US produced iPhone could cost as much as $3,500, something that he and several other sources that I have spoken with say would be bearish for Apple going forward, especially given concerns about the upgrading cycle. How long will consumers try to hold on to their iPhones, if in fact we do see prices going up to account for any move of production to the US? Obviously, also, that would take a long amount of time to be able to do that. Dan Ives in his initial note noted that a small percentage of Apple’s production being moved to the US would take a decade. So this isn’t something that can happen overnight.
03:56 Speaker A
Look, a $3,500 iPhone, there’s nothing about that that is pro-consumer. So there’s nothing about that that is actually pro-economy, especially if it’s going to take, however many years, to even bring some of those jobs, in the hypothetical scenario that Apple actually wanted to do this, that would bring those jobs onto US soil. Number one. Number two, there’s nothing about a $3,500 iPhone, or interfering with the company’s operations because you don’t agree about where they’re being produced, regardless of where you are trying to draw some of these larger trade deals to come forward, that is actually pro-business either. Because it makes it more hard to forecast for all of these companies that are trying to figure out, “Okay, how can they still provide a product into a region that makes up 50%, roughly 50%, of their overall revenue base?” There’s nothing about that that’s pro-business, especially if you are just saying, “Hey, I disagree with how you’re operating, so I’m going to target you specifically and target the product that I know is going to hurt you the most here.” Um, and so this is just a continuation of what we’ve seen in how the president goes after certain companies who do not align with what he’s trying to get out of either trade deals or ideological structures that he’s trying to push forward. Also, shares of Intuit moving higher after the company issued stronger than expected results for its third quarter and raised its full year guidance. Intuit crediting its investments in AI products and services for its strong tax preparation quarter performance. The Trump administration’s cuts to the IRS could also bring more customers to Intuit products. Stay tuned for catalysts. We’re going to be speaking to the Intuit CFO here. Quick comments, as you’re seeing shares move higher by about 7 and a half percent, I think it was on the screen when I saw it a moment ago here. Um they’re saying that they have exceptional momentum, outstanding performance across their platform, and also leveraging even more AI agents and AI enabled human experts as part of the overall product, the service that they’re putting forward.
06:26 Speaker B
Yeah, the CEO talking about how they have AI enabled human experts on staff to fuel the success of consumers, and of course small and mid-market businesses. This is a great company to talk to, to get a sense of how those smaller and medium-sized businesses across the country are doing. So that’s something we’ll be speaking with the CFO about later on. Revenue for the year estimated to grow at 15%. Prior guidance was 12% growth. So they’re continuing to move forward with that growth story amid macro uncertainty. Well, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finances Trending Tickers page.