Analysts covering Apple are largely relieved after President Donald Trump’s latest walkback on U.S. tariff policies, which stands to directly benefit the iPhone maker alongside other domestic tech giants. Shares jumped more than 4.5% in premarket trading Monday after new U.S. Customs and Border Protection guidance issued late Friday showed that smartphones and computers , as well as other devices and components such as semiconductors, will be exempt from U.S. tariffs. Wall Street is considering the move a boon for Apple after U.S. President Donald Trump earlier this month imposed 145% tariffs on products from China, where the company manufactures the vast majority of its products. Tariff-related concerns had led the stock to lose more than 10.5% this month and nearly 20.9% year to date, amid the broader market sell-off. While several analysts predict upside ahead, they still maintain that Apple faces growth concerns amid a weaker macroeconomic environment. Take a look at how some of the biggest shops are now positioned on the tech giant: JPMorgan, overweight rating, cuts price target to $245 Analyst Samik Chatterjee lowered his year-end price target on Apple by $25 to $245. His new forecast implies about 23.6% upside from the stock’s latest close. “The latest updates from the US administration late on Friday (4/11), exempting amongst other things, smartphones and PCs, from reciprocal tariffs is a big relief for Apple. The exemption will help return investor focus back to some of the medium-term drivers, but we expect several concerns to remain from the developments over the last two weeks and limit investors from immediately turning to any bull case focused on upside drivers relative to evaluating downside to earnings expectations in recent weeks.” Goldman Sachs, buy rating, raises price target to $259 from $242 Analyst Michael Ng raised his 12-month price target and upped his earnings per share estimates to reflect higher gross margins. “We are Buy-rated on AAPL as we believe that the market’s focus on slower product revenue growth masks the strength of the Apple ecosystem and associated revenue durability & visibility … Valuation is attractive relative to AAPL’s historical multiple — both on an absolute & relative basis — and compared to key tech peers. The majority of gross profit growth over the next 5-years should be driven by Services.” Citi, buy rating, cuts price target to $245 from $275 Analyst Atif Malik lowered his price target, citing larger macroeconomic concerns that could weigh on GDP and iPhone shipments this year. He kept his buy rating, however, saying the stock’s valuation remains attractive. “We expect AAPL stock to rally on Trump administration tariff exemptions for PCs and smartphones announced over the weekend,” Malik wrote in a note. “That said, Apple products are not immune from weak macro, and we lower our iPhone/Mac/wearable units to better align with Citi’s ~70bps global GDP contraction view in 2025.” Needham, buy rating, maintains $225 price target Trump’s exception is “finally” some good news for Apple, analyst Laura Martin said in a note to clients. “We believe that Friday’s exemption is an investment positive for AAPL, but that tariff uncertainty increases AAPL’s FCF risks, owing to: Higher costs (eg, AAPL reportedly air-lifted 1mm iPhones to the US from India in March); FX instability disrupts component sourcing, adding costs; Adds revenue risk to AAPL’s 17% of sales from China in FY24; Falling consumer confidence may lead AAPL to cut prices to maintain demand; and, Lower FCF visibility raises AAPL’s equity risk premium.” Evercore ISI, outperform rating, maintains $275 price target Evercore’s price target is among Wall Street’s most bullish, forecasting 38.8% potential upside ahead for Apple. “This is a major relief for Apple as the tariffs would have driven material cost inflation. Now that China tariffs have been largely mitigated, the next key trade announcement for the tech sector will likely come as a result of the Section 232 investigation into semiconductor imports,” analyst Amit Daryanani said. “Net/net: Stock should rally on the news, but uncertainty around the future of U.S. trade policy will remain a narrative overhang and key risk to monitor.” Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles, and Dan Ives, with a special edition of Pro Talks with Tom Lee. 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