The fear of soaring iPhone prices ahead of President Donald Trump's new tariffs is driving some customers to make purchases. Bloomberg reports that Apple store employees saw an uptick in foot traffic over the weekend amid growing concerns that iPhone prices could rise steeply after new tariffs are imposed.

Apple Stock experienced significant volatility over the past five trading sessions, dropping 23% following President Donald Trump’s announcement of broad tariffs affecting over 100 countries. However,

Multibillionaire Warren Buffett, CEO of Berkshire Hathaway, spent most of the past year selling down his company's massive stake in Apple. It remains Berkshire's largest position, but Buffett, famous for his eye for valuations, clearly saw trouble that long preceded the recent tariff shock.

Make no mistake about it: tariffs are real and impactful, and they will cause volatility in the financial markets. A case in point is Apple (NASDAQ:AAPL) stock, which got slammed Monday, continuing last week’s deep decline.

Apple's stock has been hit hard since the Trump administration unveiled sweeping tariffs last week, but Bank of America analysts said that could present an opportunity for investors to buy it at a discount.

Apple supplier Luxshare is in talks with customers on ways to respond to U.S. tariffs by shifting more production outside China, including the United States, its chairwoman told analysts in a telephone call on Wednesday.

Shares of Apple ( AAPL) whipsawed on Tuesday, as the US announced it will levy a 104% tariff on goods imported from China. The move comes in response to China's threat to impose a 34% tariff on US imports beginning on April 10.

The 10% baseline tariff plus additional “reciprocal” levies on China, India, and Taiwan has undermined investor confidence in the U.S. tech giants.