Apple Inc could see a hit to its annual earnings from U.S. President Donald Trum...
FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January 3, 2019. REUTERS/Arnd Wiegmann
“Our back of the envelope math suggests the impact will be roughly $0.50-$0.75 hit to earnings with roughly $0.30-$0.50 from iPhones,” the brokerage said. The United States and China have been locked in a trade war marked by tit-for-tat tariffs since last year. The tensions have disrupted global supply chains and roiled financial markets.
Apple effectively cut iPhone prices in China earlier this year after currency exchange rates had made the phones too expensive for many Chinese consumers.
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