Tesla kicks off earnings season for Big Tech’s ‘Magnificent 7’ amid huge market cap drops spurred by ‘massive uncertainty and chaos’ from White House

Quick Summary:

Since President Trump's Jan.20 inauguration, Big Tech stocks have been on a see-sawing ride that has eviscerated trillions of dollars in shareholder wealth.

A temporary freeze on the majority of the most punitive tariffs and an exemption from most of the fees on electronics coming in from China has provided some relief, but Trump has made it clear the reprieve may be short-lived.

The ritual will kick off Tuesday when Tesla is scheduled to release its full financial report after already revealing that its first-quarter car sales dropped by 13% from the same time last year.

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Article Details

Author / Journalist: Michael Liedtke, The Associated Press

Category: EconomyBusiness

Markets: United StatesChina

Topics: Quarterly results Stock Tesla Tariffs and trade Tariffs Magnificent 7

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-21 @ 10:04:16 (17 hours ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 634 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 159 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 28096396

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Official Website: fortune.com

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