Apple shares declined nearly 3% in premarket trading following the news of a reduced share buyback and warnings from CEO Tim Cook about approximately $900 million in additional tariff-related costs attributable to the ongoing Sino-U.S. trade war. The company is relocating iPhone production to India in an effort to mitigate these trade costs. Analysts see India as crucial for Apple's supply chain, and while some fears about profit impacts were alleviated, concerns about future clarity remained post-earnings call, particularly amid heightened competition in China.
Apple shares fell nearly 3% in premarket trade after CEO Tim Cook warned of additional $900 million tariff-related costs this quarter amid a raging Sino-U.S. trade war.
Matt Britzman noted that Apple is progressing faster than expected in shifting production to India to minimize the impact of President Trump's trade war.
Collection
[
|
...
]