“Apple Inc. and U.S. President Donald Trump are going head-to-head for influence over one of Asia’s key export economies,” Ese Erheriene reports for Wall Street Journal. “And so far, Apple is winning.”
“Taiwan’s stock market has been on a roll the past few months, undeterred by Mr. Trump’s ascent to the U.S. presidency and his harder line on China and trade. On Tuesday, the market ended at a fresh 23-month high,” Erheriene reports. “The benchmark Taiex index has risen 11% since mid-September, according to FactSet. This would make it the 10th best-performing stock market globally during the period, in U.S. dollar terms.”
“Apple’s share price has jumped nearly 25% over the past six months.. [and] number of Taiwan’s technology stocks are along for the ride,” Erheriene reports. “Among them, Largan Precision Co., which manufactures dual casings for the iPhone, added 30% since mid-September. Hon Hai Precision Industry Co., or Foxconn, which assembles the iPhones, was up 18%. Catcher Technology Co., which supplies casings, gained 12%. Taiwanese tech stocks that supply Apple make up more than 25% of the Taiex’s weighting, with Apple accounting for up to 50% of the companies’ revenues. The gains have helped drive the index back toward the 10000-point level that it hasn’t been able to solidly break through for two decades.”
“‘There’s a move to own Apple supply stocks,’ said Randy Abrams, a semiconductor analyst at Credit Suisse. Many emerging-market funds can’t buy directly into Apple, so they look to the supply chain for alternatives, he said,” Erheriene reports. “Meanwhile, Mr. Abrams called Taiwan’s strong stock gains noteworthy given Mr. Trump’s tough talk on trade tariffs. The country’s stock market is typically more affected by trade issues as exports make up around 70% of Taiwan’s economy.”
Read more in the full article here.
MacDailyNews Note: After touching a new all-time intraday high of $142.80 in morning trading — $142.86 per share equals $1000 per share pre-split (2014’s 7:1 split) — Apple has since pulled back to trade around $140.28.
China realizes that, were any of Orange Julius’ plans to be implemented, the resulting loss of income and burden of new medical costs for individuals would crush the buying power of many millions of americans, who would then be forced to buy the cheaper and more available products from mainland China, if they were able to buy anything at all besides food and shelter.
I told you not to be stupid, you moron.
Why do morons do stupid things… 😂
The way things are going this particular head-to-head won’t be running much longer. Trump’s entire admin getting more and more mired in allegations of money laundering, backhander taking, and possibly even downright treason.
Be ironic if they all end up “locked up” won’t it?
The sooner the better.
There was a time when slanderous accusations such as those the Trumpster has made repeatedly would immediately bring forth a congressional investigation from both parties. But I guess that was when Congress put the nation before the party, … before McCarthy demonstrated that accusation and fearmongering can be a powerful distraction for political gain.
Right now the GOP is happy to let a treasonous executive distract and polarize the people while it develops more corporate welfare bills and attempts to entrench single-party rule (we see how well that’s worked out in other countries, haven’t we!)
The thing is, someone has to track down Trump on his golf course in order to get him to sign anything. Or did the president delegate all that to Bannon too?
You must be a faithful “Fake News” watcher by the sounds of it.
I’d have to agree. The DNC is equally underhanded and awful, if not more so. Do you honestly still believe in honest politicians?
Not really a fair competition, unless Apple has like two hands behind tied their back, a gag, chains around their feet and chump has superior fire power. Even then the whiner would be going on…whhaaaaaaa they can see, how can you expect a fair fight without a level playing field, blindfold them so they don’t wire tape my precious tower, oh my precious tower.
The chump what a loser leader for a loser nation.