Citi Doubles Down on Apple (AAPL): Buy Rating Holds Firm as Tariff Storm Clouds Gather

Wall Street shrugs off trade tensions—again. Citi’s analysts stick to their guns, keeping AAPL at ’Buy’ despite looming tariff headaches. Because nothing says ’strong fundamentals’ like ignoring geopolitical risk, right?

Tech’s golden child faces supply chain roulette, yet the bulls keep charging. Maybe those $200B cash reserves buy more than just R&D—apparently, they purchase analyst optimism too.

One thing’s clear: when the iPhone maker sneezes, the market still reaches for tissues. Whether that reflex holds through 2025’s trade wars? That’ll be the real stress test.

Investors Hopeful Following Citi’s Apple Stock Forecast?

Citi’s buy rating being maintained is welcome news for investors, as Apple has underperformed in 2025 so far. Year-to-date, AAPL stock is down over 20% and even lower at certain periods. While Magnificent Seven stock members like Microsoft (MSFT) and Meta Platforms (META) are up year-to-date, Apple (AAPL) is the worst performer among the stock grouping. An uncertain US economy amid tariff threats and recession concerns has harmed most of the market, but it certainly hit Apple hardest.

The company has worked to reverse this drop, especially in terms of fighting tariff threats, by investing in AI development and expanding overseas. The iPhone developer is expanding in India, for example, opening a new facility that will create around 14,000 jobs and supply display modules specifically for iPhones that are destined for US markets. Citi analysts likely noticed this and believe that it keeps Apple stock on a solid path.

Furthermore, Apple’s expansion in India reflects a broader supply chain restructuring as the TRUMP tariffs’ impact continues to influence global manufacturing decisions. Apple’s manufacturing operations in India contributed about 18 percent of global iPhone production in 2024, and projections suggest this could jump to 32 percent in 2025, according to Counterpoint Research.

AAPL stock is trading in the middle of its 52-week range and below its 200-day simple moving average. Analysts at CNN rate the stock as a 7-out-of-10, with the majority of experts surveyed by the firm in agreement. Out of 50 analysts surveyed by CNN Business, 64% suggest buying the stock, while 28% suggest holding onto AAPL, and the remaining 8% opt to sell.