Tech companies and their chief executive officers generously supported President Trump's inauguration on January 20 in the hope of influencing his policies and enhancing their relationships with his administration. Tim Cook from Apple, Sam Altman of OpenAI, and other notable figures such as Amazon, Google, Meta, and Microsoft donated $1 million each to Trump's inauguration committee.

After Trump assumed office, Apple committed to investing $500 billion in the US, with Microsoft pledging $80 billion. Other companies like TSMC, OpenAI, and Oracle also intended to invest $500 billion in their Project Stargate AI data centers. These tech giants anticipated favorable outcomes from a potential Trump re-election, covering areas such as immigration reform, government spending cuts, and the avoidance of antitrust lawsuits.

Despite their efforts, the companies were not spared from Trump's imposition of tariffs. Tech stocks plummeted, with the Nasdaq experiencing a decline of over 12%. Apple, Meta, Amazon, Nvidia, Google, and Microsoft all saw significant drops in their share prices. Trump's announcement of a temporary pause on tariffs, except for those on China, further heightened market uncertainty.

Apple, known for its high tariff exposure, faces challenges due to its reliance on Chinese manufacturing for iPhones. White House press secretary Karoline Leavitt expressed Trump's belief in the US workforce's capabilities to shift iPhone production domestically, potentially avoiding tariffs. However, transitioning manufacturing to the US would be complex, requiring significant time and resources, as highlighted by analysts.