According to The Kobeissi Letter, China's smartphone exports to the US fell sharply by 72% month-over-month in April 2025, reaching just $689 million—the lowest level in 14 years. This decline includes Apple’s $AAPL iPhones and other devices, signaling significant disruptions in global tech supply chains (source: The Kobeissi Letter, Twitter, May 21, 2025). For traders, this deep drop could trigger volatility in tech stocks, particularly $AAPL, and increase market uncertainty. Historically, such disruptions have influenced crypto markets as investors seek alternatives to traditional equities, potentially boosting Bitcoin and Ethereum as safe-haven assets. Traders should monitor ongoing trade tensions and supply chain developments, as further declines could accelerate capital flows into major cryptocurrencies.