Trump’s latest round of proposed tariffs will negatively impact Apple’s revenues but according to some numbers crunched by an Apple analyst, investors shouldn’t worry about the company’s profits being hit too hard.
Apple revealed last week that some of the proposed tariffs would hurt the profitability of Apple Watch, AirPods, HomePod and Apple Pencil. Price increases would be passed on to consumers, however, it probably won’t be more than a 20% jump.
President Trump’s latest list of proposed tariffs on products manufactured in China would have a negative impact on some of Apple’s most popular products.
In a letter sent to the U.S. Trade Representative, Apple says the Apple Watch, AirPods and Apple Pencil would be caught in the crossfire of Trump’s escalating trade war with China. And regular consumers stand to lose the most.
iPhone owners in Turkey are taking to the streets to smash their iPhones in protest against the country’s strained relationship with the United States.
President Recep Tayyip Erdogan called on Turks to boycott U.S. products — specifically the iPhone made by Apple in California. Multiple videos have been posted online showing iPhone owners using hammers, rocks and even fire to destroy their iPhones.
Watch one of the demonstrators greet some iPhones with a sledgehammer!
Tim Cook was reportedly assured that the iPhone wouldn’t been among the items to be hit with an import tariff as part of the United States’ burgeoning trade war with China.
However, according to a new report, it may wind up being hit with two sets of charges: one on iPhones imported from China, and another tax levied in China itself. Ouch!