“Apple, Inc. has taken a beating in the month of May on concerns a breakdown in U.S. trade relations with China could leave Apple exposed to a potential boycott in China,” Wayne Duggan writes for Benzinga. “Two analyst said Thursday Apple’s seems to have steered clear of trade war disruption up to this point, but it’s still caught in the middle of a high-risk situation.”
“Bank of America analyst Wamsi Mohan reiterated his Buy rating and $230 price target for Apple,” Duggan writes. “Mohan said if China targets Apple, it could be inflicting more harm on itself than America. Bank of America estimates more than 2 million Chinese workers are employed in the Apple supply chain, making it difficult target for the Chinese government.”
“In addition, Mohan said a survey of more than 194,000 consumers around the globe indicates there has been no decline in intent to buy iPhone’s. The number of respondents indicating they intend their next smartphone purchase to be an iPhone has remained steady at around 30 percent through May,” Duggan writes. “Mohan said App Store sales in China are actually on the rise. Morgan Stanley analyst Katy Huberty… said it’s unlikely China will target iPhones given they are currently produced inside China.”
Read more in the full article here.
MacDailyNews Take:
Related articles:
The phony boycott of Apple’s iPhone in China – May 29, 2019
The media is lying to you about President Trump’s China tariffs – May 15, 2019
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019
Thought so, too.
Not at this point, at least. They’ll figure out something else. I’m sure they have an actual army of people thinking through all the products and materials to ban and possible outcomes and their impact of that.
It’s all up to our dino president and his protectionist cabinet
It’s not even protectionism. You could understand that, even if you disagree with it. The Administration is imposing taxes on Americans to promote policies that have nothing to do with fair trade. Example: the wealthiest and most powerful country on earth has lots of Central Americans pouring across its borders that it apparently cannot defend, so it is going to “punish” Mexico by taxing US importers an additional 5% on the theory that a much poorer and less powerful nation can protect its borders against those same Central Americans…somehow.
Oh, and before you start chanting “Build the Wall,” you might want to note that more than 70% of the people entering the US to apply for refugee or asylum status on the 280 mile El Paso Sector are crossing inside the El Paso city limits, where a “big, beautiful wall” has been in place for over twenty years. One alternative might be to promote local economies and assist law enforcement in Latin America so residents can stay at home safely. But no, the Administration is going to punish those economies with tariffs so even more people will want to leave.
Yeah, sure. China isn’t targeting Apple, so that couldn’t be the reason for Apple’s share value to keep dropping. It’s all a lie just to annoy Apple shareholders. There isn’t a day that goes by without someone saying how Apple will be the biggest loser in a China/America trade war. There are certainly a lot of people who like to fear-monger when it comes to Apple.
I’m fairly certain boycotting Apple products will hurt plenty of job-seekers in China who count on seasonal iPhone production lines for employment. Whatever. There’s nothing I can do about Apple losing revenue and profits, so I might as well do something constructive with my life. It’s summer-time and no time for me to be indoors worrying about Apple as long as the dividends keep coming.
I hope Tim Cook has learned some lesson from all this like not betting the farm on a single product or maybe having a cloud business as other major tech companies have would help give investors some confidence in the company.
Apple’s stock is dropping and you’re complaining? Unless you plan on retiring this weekend, count your blessings.
How about the following weekend?
Fuck trump. fuck first 2014.
This site actively promoted this fascist regime. Now he’s sticking it in your ass.
Good
“Fascist” – you keep using that word. I don’t think you know what it means.