In the landscape of the tech industry, two giantsApple Inc. (AAPL) and Nvidia Corporation (NVDA)have emerged as prominent figures amid the turbulence of what has been dubbed the 'Magnificent Seven' of Big Tech stocks. This week marked a significant chapter in their journey, as both companies navigated the unpredictable waters of former President Trump's trade policies.

The recent fluctuations in the stock prices of Apple and Nvidia serve as a vivid illustration of how investors are grappling with the ramifications of aggressive trade regulations unleashed by the Trump administration. An early indicator of this volatility appeared when Trump made his 'Liberation Day' announcement on April 2, which involved reciprocal tariffs affecting a wide range of imports.

Initially, Apple appeared to bear the brunt of these trade rules. With approximately 90% of its iPhone production taking place in China, the tech giant saw its market capitalization diminish significantly in the aftermath of the tariff announcements. According to Dan Ives, an analyst at Wedbush, Apple experienced a staggering loss of nearly $773 billion in market value shortly after the tariffs were revealed. This downturn was particularly pronounced in the days following the April 2 announcement, during which Apple stocks led the decline amongst its peers in Big Tech.

However, a glimmer of relief emerged late last Friday when the US Customs and Border Protection agency announced a tariff exemption covering a range of consumer electronics, which included virtually all of Apples products. This news injected a new sense of optimism into the market, resulting in a more than 2% increase in Apples share price on Monday. The recovery was noteworthy, as it helped stabilize Apples market cap, allowing the company to reclaim its status as a $3 trillion entity, even if only briefly.

In contrast, Nvidia faced a more challenging outlook this week. The company disclosed on Tuesday that the US government had essentially imposed a ban on the export of its specialized chips to China, an announcement that had immediate negative repercussions. Following this news, Nvidias shares plummeted nearly 7% the next day, underscoring the precarious nature of its market position. Although Nvidia has not experienced as steep a decline in value as Apple since April 2, the recent developments have led to an 8% drop in its market cap, equating to a loss of approximately $230 billion.

Stifel analyst Ruben Roy remarked that these developments have intensified investor uncertainty in an already volatile environment. His observations reflect a growing concern regarding the stability of major tech stocks amid ongoing geopolitical tensions and trade disputes.

Trump's administration had previously implemented a 10% tariff on all global imports starting April 5. While reciprocal tariffs were initially set to take effect on April 9, they were subsequently postponed for a period of 90 days, with the exception of an eye-watering 145% duty on imports from China.

Looking ahead, more uncertainties loom on the horizon. This week, Trump signaled potential tariffs on semiconductors following the announcement of exemptions for tech products. The Department of Commerce has initiated a probe into computer chips, leveraging a law that permits the president to impose tariffs on imports deemed a national security threat. Trump has consistently maintained that most electronics will remain subject to his tariff policies, raising concerns for not only Apple and Nvidia but also other tech firms that rely heavily on international supply chains.

In a tweet over the weekend, Trump stated, 'We are taking a look at Semiconductors and the WHOLE ELECTRONICS SUPPLY CHAIN in the upcoming National Security Tariff Investigations.' This declaration has left investors and industry stakeholders pondering the long-term implications for the tech sector, which has already been under immense pressure due to the ongoing trade confrontations.