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Trump threatens Apple with tariffs because of Cook's absence from the Middle East trip!
Tim Cook stayed away during Trump's Middle East trip, leading to political tensions and criticism of Apple. Current developments analyzed.
Trump threatens Apple with tariffs because of Cook's absence from the Middle East trip!
US President Donald Trump has sharply criticized Apple CEO Tim Cook in recent days. Tensions began when Cook refused to go on a trip with Trump to the United Arab Emirates and Saudi Arabia. During this trip, Trump made it clear that he was dissatisfied with Cook and threatened to take drastic measures against Apple if this discontent continued.
After returning from the Middle East, Trump expressed his intention to impose 25 percent import tariffs on iPhones not made in the United States. This threat could have a significant impact on Apple's operations, many of whose products are manufactured abroad. In particular, the president's criticism of Apple's global manufacturing practices, which he found unfair, could further aggravate the already tense situation. Trump demanded that Cook stop building production facilities in India.
Current market developments
Trump's dislike of Cook also appears to be weighing on Apple's stock market. Loud Silicon Valley Apple has lost market value in recent weeks and is now behind Microsoft and Nvidia in the ranking of the largest companies. At the beginning of May, Apple was the largest company in the world, but it is now only in third place. This downward trend was influenced by a variety of factors, including OpenAI's announcement that it would acquire an AI hardware-focused startup co-founded by a former Apple designer.
On Thursday, Apple's stock price fell 0.5%, suggesting the possibility of a seventh consecutive negative trading session. Analysts are increasingly concerned about Apple's ability to remain competitive in artificial intelligence. Political risks are also weighing on overall market sentiment, such as Moody's recent downgrade of the US credit rating and concerns about the US deficit.
Investors in conflict
Experts from the standard suggest that the continued focus on Trump's critical statements may be overblown. Investors may become accustomed to the president's frequent attacks, reducing his influence on the market. Nevertheless, the challenges for Apple are significant. Current financial results point to a slowdown in the Chinese market and growing concerns over trade tariffs have already led to several downgrades.
In addition to growth concerns, Apple has a high price-to-earnings ratio of 26.6, which is above the 10-year average of 21. Some analysts have expressed reservations about Apple's future innovations in artificial intelligence, further reinforcing cautious investor sentiment. The coming weeks will be crucial to see how the situation develops for Apple and its relationship with Trump.