Apple shares fell over 3% on Monday after President Donald Trump announced new 10% tariffs on Chinese imports, where the company assembles most of its products. The decline was the sharpest among tech megacaps aside from Tesla. Apple’s tariff profit impact depends on how much U.S. demand it can meet with production outside China. If 80% of U.S.-bound devices come from other countries, earnings may drop by 5 cents per share, but if half still come from China, the decline could be 12 cents. Apple reported revenue growth last quarter but warned of slower growth ahead, with sales declining in key Asian markets.