Apple CEO Tim Cook sounds truly optimistic about how quickly the U.S. economy will recover from the COVID-19 pandemic. He reportedly told President Donald Trump on Friday that he expects the economy to undergo a V-shaped recovery.
Trump revealed Cook’s upbeat expectations for the recovery today, according to CNBC.
It’s not at all unusual that the two men were talking. Trump himself says they speak on the phone frequently.
COVID-19 vs. the U.S. economy
Stay-at-home orders and mandatory business shutdowns in the United States and around the world have been devastating for the economy. As of Thursday, at least 26.4 million Americans have filed for unemployment insurance since the COVID-19 outbreak started, according to ABC News.
And the pandemic hasn’t been great for Apple, either. Most of its retail stores around the world remain closed, and iPhone production in China was disrupted for months. AAPL shares are down more than 14% from their high in February. Specifics on how the company performed in the first three months of this year will be revealed April 30 during Apple’s next earnings call.