11:29 AM EDT, 04/09/2025 (MT Newswires) -- Apple ( AAPL ) and Nvidia ( NVDA ) remain two "core tech names to own" amid the "Trump Tariff Armageddon" that took effect at midnight, Wedbush Securities said in a note Wednesday.

The firm said the "massive near-term uncertainty" caused by the tariffs does not change the two companies' installed base, technology leadership and long-term growth opportunities, particularly with Nvidia ( NVDA ) leading the artificial intelligence industry.

On the tech industry as a whole, Wedbush said it does not expect any companies, including Apple ( AAPL ), to provide guidance on Q1 conference calls due to the uncertain outlook.

Wedbush called the Trump tariffs "the worst US policy mistake since Smoot-Hawley in 1930."

"The self-inflicted uncertainty by these actions have unleashed an Armageddon scenario for the US tech sector in particular as the hearts and lungs of the supply chain are cemented in Asia," Wedbush said.

Apple ( AAPL ) shares rose 4.2% and Nvidia ( NVDA ) shares advanced 3.4% in recent Wednesday trading.

Price: 179.37, Change: +6.95, Percent Change: +4.03