Wedbush: Apple selloff is overdone, company faces ‘low likelihood’ that iPhones will be subject to tariffs

“Wedbush analyst Daniel Ives wrote Friday that Apple Inc.’s selloff due to escalating trade tensions with China looks overdone,” Emily Bary reports for MarketWatch.

We continue to strongly believe that for a company that employs over 1 million Chinese workers with its flagship Foxconn factory and is a major strategic player within the China technology ecosystem…from a supply chain perspective Apple will not have major roadblocks ahead despite the loud noise. Taking a step back, we ultimately believe there is a low likelihood that Apple and its iPhones feel the brunt of the tariffs given its strategic importance domestically as well as [Chief Executive Tim] Cook’s ability to navigate these issues in the past with Trump and K Street. — Wedbush analyst Daniel Ives

Full article here.

MacDailyNews Take: Investors overreacting to Apple “concerns?” Say it isn’t so!

Buy low. Reap dividends. Sell high.

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