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Apple stock soars on news of US-China tariff deal
Apple stock soared almost 6% at market open today, following the announcement of an easement of US tariffs on China. The countries agreed over the weekend to cut reciprocal tariffs from 125% to 10%. However, the deal is set to expire in 90 days as talks over a longer-term resolution continue. Naturally, investors in Apple are reacting positively to the news. Tariffs on Chinese production hurt Apple’s bottom line, as they directly affect the cost of making the iPhone, which accounts for more than half of the company’s revenue. more…
Apple stock soared almost 6% at market open today, following the announcement of an easement of US tariffs on China. The countries agreed over the weekend to cut reciprocal tariffs from 125% to 10%. However, the deal is set to expire in 90 days as talks over a longer-term resolution continue.
Naturally, investors in Apple are reacting positively to the news. Tariffs on Chinese production hurt Apple’s bottom line, as they directly affect the cost of making the iPhone, which accounts for more than half of the company’s revenue. more…
