By KBC Associate 
As the reality of living in America under President Donald Trump’s new tariffs sinks in, many find their anxiety growing about everything from the cost of their grocery bill to their investment portfolios.
The Magnificent Seven – Apple, Nvidia, Amazon, Microsoft, Alphabet, and Meta – lost more than $1.8 trillion in market value in the last week, and key voices in the space have already come forward to express their concern at the decisions coming from The White House.
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One of those is JP Morgan Chase CEO Jamie Dimon, considered one of the most influential CEOs in America. In a recent interview with Semafor, Dimon replied frankly to questions about tariffs, saying, “Uncertainty is not a good thing.”
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“I don’t think the average American consumer who wakes up in the morning and goes to work … changes what they’re going to do because they read about tariffs,” Dimon continued. “But I do think companies might.”
While Dimon seems less apocalyptic than some about the new world order, there’s another high-profile investor who is crystal clear about the threats at hand.
Wedbush Securities/TheStreet
Wedbush calls an ‘economic armageddon’
Wedbush analyst Dan Ives shared the investment company’s newest note via his X account on April 7. The note spares no expense in mapping out a future that could be devastating for anyone who holds big-name tech stocks.
Ives refers to the tariff impact on the industry as “economic Armageddon.”
“Investors today are coming to the scary realization this economic Armageddon Trump tariff policy is really going to be implemented this week and it makes the tech investing landscape the most difficult I have seen in 25 years covering tech stock on The Street,” Ives wrote.
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Ives calls the future “a costly and Everest-like uphill climb.”
“Here is the fundamental problem…investors and companies know pure math and reality…this tariff policy will set the US tech sector back a decade in our views if it stays.”
What tech stocks could offer refuge in the storm
Ives says that while well-positioned software names like IBM and Microsoft will be insulated from some of the cost inputs, he suggests several cybersecurity stocks as a defensive maneuver for tech investors.
“Cybersecurity names such as Palo Alto, Zscaler, Crowdstrike, Checkpoint, CyberArk will be defensive names where investors could rotate from semis to software to hunker down during this Category 5 storm and likely outperform other subsets of tech,” he says.
But don’t panic and sell anything off just yet. Wedbush also advises that those who already hold Apple and Nvidia stick with what they have and don’t panic.
“Apple and Nvidia remain two core tech names to own and despite this massive near-term uncertainty, it does not change their installed base, technology leadership, and long-term growth opportunities especially with Nvidia leading the AI industry,” the note reads.
Wedbush has cut its target prices for Apple and Tesla in the last 24 hours, with Apple down to $250 from $325 and Tesla down to $315 from $550.
Ives predicts a difficult day is coming
While there are a few hopeful spots here and there, Ives ends on a grim note.
“Today will be a scary day for investors (and us) … we have been through everything from the Dot.com bubble/burst, financial crisis, Europe debt worries, and Covid days in the last 25 years…it will create opportunities and way oversold tech stocks but we essentially need to toss out the next few quarters and start to work with some new normal financial model for 2026 for valuations as this tariff situation settles into place during negotiations (need to happen sooner rather than later.” There is a worst, base, and bull case framework we are using to screen tech stocks and that will be how we navigate this unprecedented situation and hand hold investors over the coming days/weeks.”
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