The company counts on the sale of devices for three-quarters of its nearly $400 billion in annual revenue, and it makes almost all of its iPhones, iPads and Macs overseas.

Trump’s sweeping tariffs have sent tech stocks tumbling. On Wednesday, the U.S. president announced blanket 10% tariffs on all countries, sparking fears of supply chain chaos and concerns about the U.

The global stock market carnage that followed U.S. President Donald Trump's sweeping new tariffs rippled through early trading in the United States, slamming a wide swath of key industries including retail and technology firms.

President Donald Trump imposed 20% tariffs on China after taking office in January. Under a sweeping new plan aimed at stimulating U.S. manufacturing announced Wednesday, he added another 34% in reciprocal tariffs, bringing the total to 54%.

Shares of Apple were down about 9 percent on Thursday morning, which would mark the biggest drop in about five years if it holds until the close, according to CNBC. Amazon shares dropped about 7 percent.