“Both of these companies are highly dependent on China for their growth,” Arora writes. “Romney has repeatedly stated that he will declare China a currency manipulator on his first day in office. Such a declaration would likely lead to a trade war.”
Arora writes, “Chinese consumers are nationalistic… Apple will find itself in a much worse position than General Motors. Apple will be hit with a double whammy, falling sales and falling margins… In my analysis, a trade war would result in Apple stock falling under $400.”
Read more in the full article here.
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