Apple shares have slid steadily amid tumultuous U.S. trade negotiations with China, as investors fear CEO Tim Cook's warning earlier this year about iPhone sales in China may yet come true.
div > div.group > p:first-child"> Apple's stock is down more than 7% since President Donald Trump declared he would increased tariffs on $200 billion of Chinese goods to 25%. As that hike went into place overnight, analysts at UBS and Morgan Stanley pointed to Apple's revenue from China as a continued risk facing the tech giant, especially regarding iPhone sales.
Cook warned in January that a weakening economy in China would hit Apple financially. The company lowered its 2019 revenue forecast accordingly to $84 billion. Apple blamed a variety of factors for the lowered guidance but especially focused on slowing revenue"primarily in Greater China," saying getting overseas customers to upgrade to newer iPhones was"not as strong" as Apple expected.
"I believe that the trade relationship — I don't mean the tariff, I mean the tone — is much better today than it was in the November-December time frame. That affects consumer confidence in a positive way," Cook said on April 30."China still accounts for high-teens percent of revenue and profit" for Apple, UBS said.
"Apple has one of the most significant exposures to Chinese exports to the US" among technology companies, Morgan Stanley said in a note.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Apple Is Caught in the Middle of the Trade War With ChinaMorgan Stanley analyst Katy Huberty concluded that tariffs would raise the cost of an iPhone XS by some $160, significantly raise Apple’s cost of goods sold, and ultimately slice 24% off its fiscal 2020 EPS forecast of $12.67.
Consulte Mais informação »
Apple has bought around two dozen companies in the past 6 months, Tim Cook saysThey don’t always make headlines, but Apple Inc. has been snapping up companies at a rapid pace recently.
Consulte Mais informação »
Apple CEO Tim Cook talks protecting customers' private data, limiting screen timeApple CEO Tim Cook is worried – about the protection of personal data, kids’ relationships with their devices, and the amount of time consumers are spending on devices.
Consulte Mais informação »
Watch Apple CEO Tim Cook's full interview from the Berkshire Hathaway shareholder meetingApple CEO Tim Cook told CNBC how he first learned Berkshire Hathaway CEO Warren Buffett was investing in his business.
Consulte Mais informação »
Apple buys a company every few weeks, says CEO Tim CookApple CEO Tim Cook said the company has acquired approximately 20 to 25 companies in the past six months.
Consulte Mais informação »
GE CEO expects weaker quarters for rest of 2019, higher China tariff costsGeneral Electric Co Chief Executive Larry Culp said on Wednesday that the compan...
Consulte Mais informação »
CEO of Buffett-owned Brooks Running moves production out of China, cites tariff threatThe chief executive of Brooks Running, part of Warren Buffett's Berkshire H...
Consulte Mais informação »
Huawei Has Taken Over Apple's Market Share In China; It Will Get WorseWait until Hauwei launches its own operating system. Then even Google will have a new rival.
Consulte Mais informação »
US tariffs on China jump as deadline passes, China immediately says it will retaliateThe Trump administration is hiking duties on $200 billion worth of Chinese products to 25% from 10%.
Consulte Mais informação »
China's Sinopec, CNPC skip Iran oil buys for May as U.S. sanctions waivers end: sourcesChina Petrochemical Corp (Sinopec Group) and China National Petroleum Corp (CNPC...
Consulte Mais informação »