Donald Trump's tariffs are about to hit Apple hard.
A long-expected executive order signed by the president introduced a 34% tariff on goods from Apple's most important manufacturing hub - China.
China has long been Apple's central hub for manufacturing and assembling its products, and the tariffs threaten to raise the cost of Apple goods imported from China.
Analysts estimate that almost half of Apple's revenue is exposed to China through direct sales and the supply chain, and the new tariffs could have a significant impact on the company's total gross margin.