Apple's stock surged by 6% on Monday, adding approximately $180 billion to its market cap after the US and China agreed to reduce tariffs significantly for 90 days.
President Trump mentioned having spoken to Apple's CEO Tim Cook after the tariff deal and discussed boosting investments in America.
Under the new agreement, US and China will cut reciprocal tariffs from 125% to just 10%, aimed at a reset in relations between the two nations.
Apple's market valuation increase contributed to the overall surge in the market, with the S&P 500 gaining 3.26%, driven by strong performances from tech companies like Apple and Amazon.