President Donald Trump's tariffs wreaked havoc on nearly all S&P 500 stocks. But a handful have recovered as bargain-hunting investors buy them.
Shares of five S&P 500 stocks, including Seagate Technology, Western Digital and Monolithic Power, all recovered all their 20% or greater losses from Trump's tariff announcement. These mark major bounce backs in a short period of time.
And the broad S&P 500 still hasn't recovered. The S&P 500 is still down 1.1% from the April 2 tariff announcement. The index had been down more than 12% at the lows six days following the shocking news.
"While it's not the absolute worst 100-day postinaugural period for U.S. stocks in history, it's awfully close," said Zachary Hill, head of portfolio management at Horizon Investments.
The S&P 500 Is Still Struggling
The announcement of massive tariffs by Trump put the S&P 500 into a tailspin. And it mostly hasn't recovered.
A vast majority of the 53 S&P 500 stocks that fell 20% or more in the six days following the tariff announcement are still down an average of 11%.
But investors are still buying falling shares of S&P 500 index funds, indicating they're looking for a bounce now that Trump has backed down.
Better Times For Hard Drives
Two leading computer storage makers' shares show the trend best.
Seagate Technology shares tanked more than 22% from April 2 to April 8. Investors worried tariffs would kill foreign demand for its devices. Similarly, shares of rival Western Digital collapsed 24.5%.
But since then, both have recovered and then some. Both stocks are up more than 5% from the day of the tariff announcement. Seagate's RS Rating is just 42, but it's trying to inch back up to support. Analysts think profit will jump 508% this year.
Western Digital's RS Rating is even lower: 29. But analysts think its profit will rise more than 5,700% this year.
So while S&P 500 investors are still dealing with the shock of tariffs, they're starting to find opportunities in the wreckage.
S&P 500 Tariff Survivors
They're up from April 2 after being down 20% or more
| Company | Ticker | % Drop To Low | % Ch. From April 2 |
|---|---|---|---|
| Seagate Technology Holdings | STX | -22.2% | 5.3% |
| Western Digital | WDC | -24.5% | 5.2% |
| Monolithic Power Systems | MPWR | -22.9% | 1.9% |
| Hewlett Packard Enterprise | HPE | -22.4% | 1.8% |
| Skyworks Solutions | SWKS | -24.1% | 0.7% |
