Shares of Apple Inc. soared on Tuesday after the U.S. delayed a 10% tariff on certain Chinese imports, including smartphones and notebook computers.
Ryan Vlastelica for Bloomberg:
The stock jumped as much as 5.2%, its biggest one-day percentage gain since July.
According to data compiled by Bloomberg, nearly 20% of Apple’s 2018 revenue was derived from China, with cell phones a dominant part of its overall business.
The 10% tariff had been seen as a major potential headwind. According to Wedbush analyst Daniel Ives, the tariffs would have lowered Apple’s 2020 earnings by 50 to 55 cents a share had they gone into effect. (The consensus is for earnings of $12.76 a share in 2020, per Bloomberg data.)
MacDailyNews Take:
♫ Happy days are here again
The skies above are clear again
So let’s sing a song of cheer again
Happy days are here again ♫
😆 💵 💲 🤑
oooh, emojis! You make Timmy proud. All the hard work the last decade to dumb down human communication is working.
Meanwhile, on Wall St., AAPL has dropped 2.6% so far on August 14, bouncing around $203.38 at the moment. The see-saw continues. Apparently investors aren’t totally impressed with the fiscal management of the orange buffoon, not to mention Timmy Cookie’s inability to diversify hardware production locations and lower pricing…
The shoe rises and the shoe drops on Apple in this crazy economy. No point in celebrating as it will most likely be temporary. Trump could easily do something stupid again tomorrow and cause more economic chaos.
You got that right. This is just another roller-coaster ride for Apple shareholders. Tomorrow, there will be some negative news to take Apple’s share price right back down. You can almost depend on that happening like clockwork.
Trump is the chaos president. We were warned in 2016.
“The three-month delay to the imposition of tariffs on more than half of the $300bn of Chinese imports, originally scheduled to take effect next month, is obviously designed to avoid a politically-damaging rise in consumer prices ahead of the holiday season,” said Andrew Hunter, senior U.S. economist, at Capital Economics.
“It should not be misinterpreted as a sign that trade tensions are easing,” he added. ”Tensions will probably continue to ebb and flow over the coming months, resulting in further bouts of volatility in the markets, but we still see a continued escalation as the most likely outcome.”
Wow. You can just quote people and get a 1 star. Heh.
Some people here (you know who you are) don’t like facts or objective observations.
Let me do one better, I’ll quote Trump:
“We’re doing this for the Christmas season,” the president told reporters during a trip to New Jersey, referring to an announcement hours before that the US would temporarily shield some Chinese products from tariffs. “Just in case some of the tariffs would have an impact on US consumers.”
So that means that all the time he was lying to his political base that the Chinese would supposedly pay these tariffs, he knew he was lying. He knows very well that the US consumer pays it. Cost trickle down is infinitely more efficient than wage trickle down.
Then one has to ask — if Trump isn’t a slimy swamp creature telling his cult what they want to hear, what is? Lying is lying, from both parties. How anyone can accept Trump lies while whining about That Other Media and whatever other scapegoats they can find is truly rich. You have to be very disconnected from Reality to not see through the least informed president in the last century.
Finally — is there anyone competent left at the White House? How strategically inept does one have to be to jerk around businesses and markets like this? Nobody moved Xmas to a different date this year, did they not see this coming? Is Trump just know discovering that his cost-sensitive “Hee-Haw demographic”, to use MDN speak, would not be happy about price spikes for Black Friday this year?
What a manipulative delusional idiot. If it can fit in a stocking, it’s exempt from tariffs. But look how strong he is sticking it to those bad bad Yugely bad Chinamen! Trump blinked because, despite his rhetoric, his financial donors and companies like Apple clearly have assets in China and have no plans whatsoever to move back to the US. Trump’s pretend world he sells to low wage Americans where he alone can change this is getting thin. Trump’s real base — the billionaire 1% oligarchs — aren’t going to let real trade reform harm their Chinese suppliers too much.
Meanwhile the typical Trump voter is being set up for a decade of tax increases and almost certainly another reckess debt-fueled recession. I predict there will be another round of welfare for Big Ag before the holiday season too. At this point, why wouldn’t Trump add to his $300 billion buget increase, which is projected to add $1.7 trillion debt over the next decade? He obviously lied when he said he wanted to balance the budget too. If Trump really wanted to help US manufacturing, he would get off his ass and invest in US infrastructure and worker retraining for 21st century tech.
“If Trump really wanted to help US manufacturing, he would get off his ass and invest in US infrastructure and worker retraining for 21st century tech.”
As most of us learned in grade school, Congress, not the President, controls the purse. Congress, as the representatives of the people, are in control of public funds – not the President or executive branch agencies.
Except that Trump controls the Republican Party, which controls the Senate. What Trump wants the GOP Senate will give him.
Trump could take the lead and come out in favor of building up US Infrastructure and worker retraining for high tech, but he hasn’t and so the Senate will not move on this at all. The Democratic House has already signaled a desire to work on infrastructure and worker retraining.
Trump is the one standing the in way, and in the mean time tries to act macho with his destructive trade war.
@FactChecker, As most of us learned in primary school, your president proposes the budget to Congress, which authorizes it. Then the president has latitude to spend it within certain constraints. This president has doled out plenty of cash to military contractors during peacetime, but has offered US workers little more than campaign rallies filled with braggadocio. He assigned labor expert Ivanka to host roundtables where he could pop in and brag about how much Tim Apple has done to … um, outsource all Apple hardware manufacturing to China. To celebrate Ivanka’s amazing success, Trump held a press party and lied to the American people, again: https://politizoom.com/2019/07/26/trump-gives-credit-to-ivanka-for-jobs-created-during-obamas-term-plus-ones-that-dont-exist/
From 2014-2015, the “horrible” prior administration delivered + 202,417 jobs per month on average. For the first 2 years of the Trump administration, an average of + 188,542 jobs per month were created. Trump has nothing but lies and deceit to offer, and it seems some people here are still willing to believe it. At some point, the truth will have to be acknowledged — but of course we know that the damage that the next president inherits will be blamed on the scapegoats Trump has inflated for years … “socialists”, “immigrant rapists”, “communists”, “demoncrats”, “RINOs”, “enemies of the state”, anyone from the opposing party, and so forth. The rhetoric is identical to a tin pot authoritarian and just as dangerous to the republic.
Meanwhile, US manufacturers that, before the trade war ramped up anyway, wanted to expand, could not find enough trained workers to do so. McConnell and Trump, who own 2/3 of the swamp, are entirely to blame for doing nothing of substance to renew US labor, infrastructure, and security. You know it and I know it. Enjoy your multimillion dollar military parades and fact-free campaign rallies.
GDP growth:
The US budget deficit under Trump now exceeds that under Obama ($1.4 Trillion) — and Obama inherited major bipartisan bailouts signed by Bush on his way out of office. Trump inherited a growing economy and has run it off the rails, just like every prior Trump business.
In Hong Kong protestors are waving the American Flag and singing the our national anthem. They understand our freedom, better than we do.
The enemy of your enemy is your friend.
Absolutely the best comment I’ve read today and so much truth in what you’ve said as well.
eat it KAEPERNICK!
You realize you are applauding public protests in Hong Kong by criticizing public protests here in America. How does that make any sense?
I salute the citizens of Hong Kong who are risking jail (or worse) to stand up for freedom and democracy. I also salute those here at home who have put their careers on the line (and sometimes their bodies) to protest systemic racism at the hands of law enforcement agencies.
If you truly believe in “my country, right or wrong,” you should be criticizing the Hong Kong protests (and similar popular uprisings) as many have criticized BLM and other domestic protests movements. Otherwise, you’re just being a hypocrite.
Easy come, easy go.
The unfair Chinese trade practices are just being kicked down the road again until after the next election just as they have for all of the last 5 presidents.
Thank U Tricky Dick. Corrupt corporations just couldn’t resist the cheap labor. Are their Cayman cash piles affected by Drumph’s taxes on US consumers?