With President Trump's China tariffs and China's retaliatory actions gutting Apple stock today, a report from the Brazilian publication Exame claims that Apple is considering producing its iPhone smartphone in Brazil. Trump's tariffs are designed to entice companies to produce their products in the US by raising their import costs and to nudge countries to reduce the barriers that they have erected against US exports. Apple already manufactures the base iPhone 16 in Brazil, and Exame's report is brief as it simply quotes anonymous sources to point out that Apple might utilize lower tariffs against Brazil to expand its production in the country.Apple Stock Gutted By Tariff Announcement & Sheds 13% In Just Five DaysApple's status as the world's most valuable company is driven by the strong demand for its products,which it ships to millions of users worldwide courtesy of its robust supply chain based in China. As a result, the stock shed more than $250 billion in market value yesterday and today after the US and China announced tariffs on each other. Investors dumped Apple stock as they re-calibrated their expectations about the firm's revenue in the wake of higher costs for its US iPhone sales.As of Apple's first fiscal quarter, North America accounted for 42% of the firm's sales to make it the single biggest percentage contributor with the iPhone accounting for 56% of the total sales. Apple's latest smartphones are manufactured in China primarily by its main contract manufacturing partner, Taiwan's Hon Hai Industrial, or Foxconn.Tariffs on China threaten Apple's iPhone imports in the US as they complicate the firm's global supply chain model.Amidst this turmoil, a report from the Brazilian publication Exame claims that Apple is considering expanding its production in Brazil. It provides little additional context and quotes anonymous sources for its claims. Apple already manufactures the base version of the iPhone 16 in Brazil, and the move is purportedly motivated by lower tariffs on Brazilian exports to the US.US tariffs on China have generated considerable turmoil among analysts when it comes to Apple's shares. Not only has Apple's manufacturing base of China, which has been targeted by 54% tariffs, but another key base, India, has been hit with 28% tariffs. Analysts at Raymond estimate that up to 28% of Apple's total sales can come from the US, making the multi-billion dollar market cap rout unsurprising.The same analysts also believe that Apple might have to raise its US hardware prices by 30% to fully absorb the impact of US tariffs against China. The firm's shares closed 7.3% lower today as they 15.9% in cumulative value since President Trump announced his tariffs on Wednesday. Analysts have also speculated that Apple might secure a reprieve from the Trump administration, given the firm's extensive investments to support job growth and creation in America.Deal of the Day