Stock Movers Trump Tweet Hits Apple; No Guidance from Deckers; Ross Stores Pop
May 23, 2025
Recent turmoil in the stock market is spotlighted, especially with Apple's shares falling due to tariff threats from Trump. Deckers faces challenges after disappointing guidance, raising concerns about its future amidst global trade uncertainties. Similarly, Ross Stores sees a dip in shares, withdrawing its full-year forecasts due to economic instability. On a brighter note, Intuit shines in the spotlight, reporting impressive third-quarter results and raising its annual outlook, showcasing resilience in the tech sector.
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Trump's Tariff Threat on Apple
- President Trump's threat of 25% tariffs targets Apple if iPhones aren't made in the U.S. - Apple has historically focused iPhone production in China but promised to hire more U.S. workers.
Deckers Faces Forecast Drop
- Deckers, maker of Hoka shoes and UGG boots, gave a disappointing fiscal Q1 forecast, shares fell 18%. - The company declined to give full-year guidance due to global trade and tariff uncertainties.
Damien’s UGG Shoe Anecdote
- Damien Sasser noted his household has a record number of UGGs, one pair per month is typical. - He personally wears UGG slippers daily and prefers tan over navy blue.