<ul><li>U.S. stocks gained as investors parsed the Trump administration’s latest actions on reciprocal tariff exemptions for Apple iPhones, other cellphones, computers, and consumer electronics.</li><li>The exemptions announced Friday night may be a boost for shares of companies from iPhone-maker Apple Inc. to semiconductor giant Nvidia Corp. Still, Lutnick and Trump’s suggestions that they may only be temporary are likely to keep traders on their toes.</li><li>Apple claimed the lead in global smartphone sales for Q1, driven by the iPhone 16e launch and robust demand in Japan and India.</li><li>President Donald Trump’s administration has excluded smartphones and computers from its reciprocal tariffs, which include a 125% tariff.</li></ul>

Apple, big tech lead stocks relief rally after President Trump’s weekend tariff pause

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