Apple Falls After Trump Suggests iPhones Could Get Hit by Tariffs

[demmiblue]

Source: Bloomberg

Apple Inc.continued its downward slide Tuesday after U.S. President Donald Trump suggested that 10 percent tariffs could be placed on mobile phones, like the iPhone, and laptops made in China.

The shares, which have lost about a fifth of their value in a tech market rout since October, were down 1.5 percent to $172.02 Tuesday morning in New York. On Monday, Apple briefly ceded its crown as world’s most valuable publicly traded company to Microsoft Corp.

The company already is facing reports of suppliers cutting forecasts, signaling the new iPhone models introduced in September aren’t selling as well as anticipated. Trump’s comments to the Wall Street Journal that he may include Apple’s signature product in another round of tariffs on Chinese imports are another blow for Chief Executive Officer Tim Cook.

“Maybe. Maybe. Depends on what the rate is,” the president said, referring to mobile phones and laptops. “I mean, I can make it 10 percent, and people could stand that very easily.”

Read more: https://www.bloomberg.com/news/articles/2018-11-26/trump-suggests-10-tariffs-may-be-placed-on-iphones-laptops

[MontanaMama]

1. The one thing that you can count on is that

every single thing that Fraud45 touches turns to shit. No exceptions.’

[bpositive]

2. I wonder if anyone of his friends and family

are shorting certain stocks.

Would be an interesting analysis.

[RobinA]

12. If You Read

the NYT investigation of his finances you find that he shorted stocks constantly. He'd collect a lot of stock and then threaten loudly to sell it, at which point it would predictably go down. It's kind of like as President he is always saying maybe he'll do this or maybe he'll do that. I read a book on Vanderbilt about a year ago and those old robber barons on the way up used to do this kind of thing to each other all the time. Threaten to buy out this guy's railroad and then when the stock went down sell it short. Almost bankrupt themselves undercutting a competitor and then when the other guy lost business and the stock went down sell short.

Unfortunately, the POTUS isn't supposed to be a robber baron.

[moonseller66]

3. Headlines you'll never see...

TRUMP IMPOSES TARIFF ON ALL GUNS

[HuskyOffset]

4. I don't know how

one would impose tariffs on just iPhones, as I thought all smartphones are made in China.

[unblock]

5. It would very likely affect all smartphone imports, it's just that

iPhones have the biggest portion of the market and so Apple would be hit the hardest.

[RobinA]

13. I Get It

So that way the American makers of cellphones would have a better chance. Oh wait....

[unblock]

15. ding ding ding!

[Initech]

6. MAGA!!!!

[packman]

8. A worm in the apple

[Corgigal]

9. And the young, who don't vote cause its generational

go what?

Morning kids.

[C Moon]

10. Maybe TrumPutin want the economy to cripple, and put blame the Democratic congress in 2020.

Wouldn't put it past those aholes.

[dalton99a]

11. Kick

[sarcasmo]

14. 1500 for an iPhone, Merica.