Some say the ban could have negative implications for US technology companies, including Apple, one analyst says the development may be mere 'noise.'
The US Commerce Department said on Wednesday it added Huawei to itsthat prevents the company from purchasing American parts and components without the government's approval first.
"While we expect a lot more sand to be thrown in the sand box between the Beltway and Shanghai until the G-20 talks in late June around these trade tensions, we caution investors on Apple to not jump to conclusions and instead rationally digest the most likely scenario when analyzing the stock," Ives told clients in a note out Thursday.
"Based on our analysis the way the tariff situation stands today on some lithium batteries and other input materials the cost of making iPhones currently will go up by roughly 2%-3%," Ives said.
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