Apple Jumps on Tariff Exemptions, Southwest & Chipotle Lower Price Targets

On this episode of Stock Movers:

- Apple (APPL) shares jump 4.5% on Monday after US President Donald Trump’s administration temporarily exempted phones, computers and chips from its so-called reciprocal tariffs. The exclusions, published late Friday by US Customs and Border Protection, narrow the scope of the levies by excluding the products from Trump’s 125% China tariff and his baseline 10% global tariff on nearly all other countries. However, following the exemptions, Trump went on to pledge that he will still apply tariffs to popular consumer electronics — making the reprieve seem temporary and part of the longstanding plan to apply a different, specific levy to the sector

- Chipotle Mexican Grill (CMG) shares dropped as RBC analysts lowered the company's price target to $65 from $70 but keep an outperform rating on the shares. RBC also points that demand for the company's newly introduced Chipotle Honey Chicken might be softer than expected.

- Southwest Airlines (LUV) shares are down as the company's price targets were downgraded by Bank of America and Citi. This comes after Delta and other airlines are sending warning signs for the industry and overall demand for travel.

See omnystudio.com/listener for privacy information.