Consumer Tech News (Apr 28-May 2): Trump May Ease Auto Part Tariffs, House Republicans Tabled $250 Charge On EV & More – Apple (NASDAQ:AAPL), Amazon.com (NASDAQ:AMZN)
President Donald Trump is expected to soon sign into law the “Take It Down Act,” a sweeping bipartisan measure that targets the spread of nonconsensual, sexually explicit deepfake images and videos online.
Trump will provide some relief to U.S. manufacturers by reportedly easing some duties imposed on foreign parts in domestically manufactured vehicles.
Republicans in the U.S. House of Representatives advanced a reform proposed by Rep. Sam Graves (R-MO), which tabled a $250 annual fee on all EVs.
Earnings Results
Meta Platforms Inc. META reported first-quarter revenue of $42.31 billion, beating analyst estimates of $41.39 billion and earnings of $6.43 per share, easily beating analyst estimates of $5.21 per share.
Apple Inc. AAPL reported fiscal second-quarter revenue of $95.36 billion, beating analyst estimates of $94.53 billion and earnings of $1.65 per share, beating analyst estimates of $1.63 per share.
Smartphones & Applications
Apple is reportedly considering a shift of iPhone assembly to India. However, a renowned analyst has expressed skepticism about the potential effectiveness of this move in mitigating the impact of China tariffs.
Apple CEO Tim Cook said that the tech giant expects a $900 million cost impact in the June quarter due to tariffs.
As Washington cranks up the tariff pressure, Apple may have already played its smartest card: doubling down on India for assembly and investing deeper into U.S. component suppliers.
U.S. District Judge Yvonne Gonzalez Rogers found Apple and one of its top executives in contempt of court, accusing them of deliberately evading a 2021 injunction meant to curb the tech giant’s control over App Store payments.
Following a U.S. court ruling that found Apple violated the spirit of an injunction against anti-steering practices, Epic Games, backed by Tencent Holdings TCEHY, has offered to bring Fortnite back to the App Store if the tech giant fulfills this one condition.
Spotify Technologies SPOT defended its $11.99 Premium plan while signaling that future price hikes could be part of its long-term strategy.
Technology
Alibaba Group Holdings Ltd BABA introduced Qwen 3, its most advanced artificial intelligence model yet.
Meta has announced the launch of a standalone AI app that will compete with the likes of OpenAI’s ChatGPT, Google’s Gemini and xAI’s Grok.
Alphabet Inc.’s GOOG CEO Sundar Pichai revealed ongoing talks with Apple to integrate the company’s Gemini AI into iPhones, amid federal regulators’ push to rein in Google’s dominance in online search.
Nvidia Corporation NVDA CEO Jensen Huang told U.S. lawmakers that export restrictions on AI chips may be helping China’s Huawei Technologies gain a competitive foothold in the global artificial intelligence race.
Automobiles & Defense
Pershing Square‘s Bill Ackman has hailed Amazon.com Inc. AMZN founder Jeff Bezos-backed Slate Auto as the company recently revealed its $20,000 EV truck.
Tesla‘s TSLA Chinese division is developing an affordable version of the popular Model Y crossover SUV.
Ross Gerber has called out Tesla‘s rumored Model Y E80, which is slated to be a more affordable version of the new Model Y.
Tesla said that the company expects the first units of the Semi to enter production by the end of the year.
Tesla is ramping up the production of its Semi Truck as the company reportedly added over 1,000 Workers to its Nevada Giga factory.
Dan Ives refuses to acknowledge Alphabet‘s and Toyota Motor Corp‘s TM partnership as a threat to Tesla‘s Robotaxi ambitions.
Elon Musk‘s space-based internet service provider, Starlink, could reportedly face delays in its plans to expand into India due to regulatory requirements.
Future Fund‘s noted investor, Gary Black, has raised questions over Tesla marketing strategy as Elon Musk says his brand can be the “most valuable company” in the world.
Airbus SE EADSF has agreed to take over assets owned by Spirit Aerosystems Holdings Inc. SPR in a boost to the manufacturer’s acquisition by Boeing Co. BA.
Stellantis STLA parent company of Dodge and Jeep, will debut a solid-state battery in the Charger EV.
Stellantis will reportedly move some of its production activities into the U.S. as the company grapples with uncertainty caused by U.S. auto tariffs.
General Motors Co. GM recalled over 877,000 vehicles with the 6.2-liter V8 engine due to possible defects. The company has also issued a stop-sale order for the affected models.
Mercedes-Benz Group MBGAF pulled its 2025 earnings guidance, citing uncertainty over U.S. President Donald Trump‘s tariffs.
As Chinese EV giant BYD Co., Ltd BYDDF is gearing up to expand its presence in Europe, satellite images show the company’s facility in Hungary taking shape.
Ford Motor Co. F has announced it will delay the planned hike in prices for its vehicles until it sees how the competitors respond to auto tariffs.
Artificial Intelligence (AI)
Mark Zuckerberg said that Meta’s artificial intelligence future will cater to both billions of free users and a group willing to pay big for powerful digital agents.
Meta CEO Mark Zuckerberg predicts that the future of AI won’t follow the “winner takes most” model seen in the search engine industry.
OpenAI CEO Sam Altman acknowledged that the last few updates to the GPT-4o model made its personality “too sycophant-y and annoying.”
OpenAI unveiled an upgrade to ChatGPT’s search functionality, enabling users to browse and shop for products directly within the chatbot.
Geoffrey Hinton, known as the “Godfather of AI,” has joined a growing chorus of experts and former employees urging regulators to block OpenAI’s controversial restructuring plans.
