Wedbush: Apple and Big Tech halting sales in Russia is a rounding error

In a note to clients on Thursday, Wedbush analyst Daniel Ives writes that Apple’s move this week to ban the sales of its products in Russia will prompt “more tech stalwarts to head down the same path and pull the plug on Russia over the coming weeks given the horrific atrocities seen coming out of Ukraine.”

An explosion lights up the night sky over Kiev in the early hours of Thursday, as Russia launched an attack on Ukraine (Photo: The Daily Mail)
An explosion lights up the night sky over Kiev in the early hours of Thursday, February 24th, as Russia launched an attack on Ukraine (Photo: The Daily Mail)

Ives writes:

While Apple has no stores in Russia the company sells through third party websites and partners/vendors. Apple and other tech giants have banned various Russia state controlled news outlets and apps from its App Store as well as removing traffic/live incidents from Apple Maps.

Taking a step back, the exposure to large tech stalwarts such as FAANG names and the software/chip ecosystem is a rounding error relative to the global footprint with our estimates that if the US tech world pulled the plug on Russia it would have a 1%-2% revenue impact in a worst case scenario. This is a move the Street would gladly applaud given the heartbreaking Ukraine invasion by Russia that is playing out in front of the world’s eyes.

MacDailyNews Take: Yup.

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11 Comments

  1. Did it make you feel good, Apple and Big Tech?

    Nice to know that you do what’s right just as long as it is a “rounding error” to your bottom line.

    We all know what hypocrites and how fake their moral outrage is, because Apple and Big Tech doesn’t have the balls do to the same to other countries taking egregious actions against other countries or their own people.

    So, for Apple and Big Tech, morality comes down to money and nothing more!

  2. Apple did the right thing. I applaud their action to stop doing business in Russia.

    Apple has no obligation to provide enabling technologies for the distribution of disinformation and bullshit provided by Russian propagandists.

    1. Yes Apple did the right thing in Russia but what’s the chance that Apple will do the right thing in CCP China. Does Apple only do the right thing when the consequence are only a rounding error and poses no real threat to the P/E ratio.

  3. I wonder what kind of rounding error you’d get if the Russians took their paltry money and built nuclear bombs to wipe out some Apple installations in their back yard?

    Just look at what this Ukrainian invasion is costing us, and those from the free and civilized world tend to add human costs.

    Oe should forget that there are also benefits, like macommrade daily news getting to post a nice big bomb explosion for every Ukraine article and everyone knows just how much Apple’s home nation loves bombs. Remember all those nuclear explosion pictures when Steve Jobs mentioned he’d go nuclear on someone?

    Not to mention the moral benefit Putin has provided to the world by showing us his biggest fan ever, and what a terrific fan. I bet that fan loves him so much, KKKaputin could start a war and he’d call him a genius for it.

    1. You mischaracterize President Trump from his appearance on the Clay Travis & Buck Sexton Show on Feb. 22, 2022. You do the usual routine performed by the legacy media and the TDS afflicted that’s been going on for years: Pretend not understand sarcasm so you can claim Trump said something he didn’t.

      Here’s is the actual transcript.

      BUCK: Mr. President, in the last 24 hours we know Russia has said that they are recognizing two breakaway regions of Ukraine, and now this White House is stating that this is an “invasion.” That’s a strong word. What went wrong here? What has the current occupant of the Oval Office done that he could have done differently?

      TRUMP: Well, what went wrong was a rigged election and what went wrong is a candidate that shouldn’t be there and a man that has no concept of what he’s doing.

      I went in yesterday and there was a television screen, and I said, “This is genius.” Putin declares a big portion of Ukraine as independent. Oh, that’s wonderful. (sarcasm)

      So, Putin is now saying, “It’s independent,” a large section of Ukraine. I said, “How smart is that?” And he’s gonna go in and be a peacekeeper.

      That’s the strongest peace force… We could use that on our southern border. That’s the strongest peace force I’ve ever seen. There were more army tanks than I’ve ever seen. They’re gonna keep peace all right. (sarcasm)

      No, but think of it. Here’s a guy who’s very savvy… I know him very well. Very, very well.

      By the way, this never would have happened with us. Had I been in office, not even thinkable. This would never have happened.

      But here’s a guy that says, you know, “I’m gonna declare a big portion of Ukraine independent,” he used the word “independent,” “and we’re gonna go in and we’re gonna help keep peace.”

      You gotta say that’s pretty savvy. And you know what the response was from Biden? There was no response. They didn’t have one for that. No, it’s very sad. Very sad.

      Full Interview: President Trump With C&B From Mar-A-Lago:
      https://www.clayandbuck.com/president-trump-with-cb-from-mar-a-lago/

      1. Like your boss, you spend a crazy amount of time reading opinions on twitter. Have you ever used any other app on your Mac? Do you own a Mac? Why can’t you find a blog that aligns with your vocation? Please get a clue

      2. Well if what the chump said was sarcasm it’s even more inappropriate but I think that’s the chump’s opinion, KKKaputin is a genius.

        No matter though, one thing the chump is not doing to my knowledge is fighting side by side or sharing info with joe regarding Russia, not that Joe whatever would be able to understand the workings of a grand chess master like chump, but the checker player did manage to steal an election from him, makes you wonder just how sarcastic the chump is about security. It’s really hard to respect any country that gets their election stolen. It’s hard to respect any country that goes off invading sovereign countries on imaginary charges be it ruska for invading Ukraine, or Apple’s home nation invading Iraq but it’s a really good indication of loser nations.

        Enough about losers though, the world needs winners and serious leadership. Fortunately and its seeing it from Petro Poroshenko and Volodymyr Zelenskyy the former and current presidents of Ukraine fighting side by side with their people. It’s their actions that are making the difference.

        1. Genius is not a statement of moral quality. The term evil genius is very common and denotes a person can be a genius and still make morally evil choices. To say someone is a genius says nothing about the moral right and wrong of how they use there facility.

          I personally don’t think Putin is a genius but it’s important to keep the meaning of words based on their actual definition and not based on personal feelings of those that use the words.

          Would you rather be a morally good dummy or evil genius? Unfortunately all around us are examples of people who sacrifice the moral right choice in place of selfish gain and malevolence.

          Apple is an innovative company, but often they use their power and position to enable evil outcomes in the name profit. Just because apple partners with the criminal state of CCP China does not mean that many of their products are not genius.

          Below is a partially list of the qualities that a genius have and none are moral judgments. All of these qualities can be used for good or bad.

          exceptional intellectual ability
          creative productivity
          universality in genres
          originality
          Curious mind
          Abstract thinker
          Risk taker
          Reject routine

          Again I personally do not think Putin is a genius but I do think he is evil. But if I did label him as genius that would not change my opinion that his actions as evil.

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