Analysts: China isn’t targeting Apple in trade war

“Apple, Inc. has taken a beating in the month of May on concerns a breakdown in U.S. trade relations with China could leave Apple exposed to a potential boycott in China,” Wayne Duggan writes for Benzinga. “Two analyst said Thursday Apple’s seems to have steered clear of trade war disruption up to this point, but it’s still caught in the middle of a high-risk situation.”

“Bank of America analyst Wamsi Mohan reiterated his Buy rating and $230 price target for Apple,” Duggan writes. “Mohan said if China targets Apple, it could be inflicting more harm on itself than America. Bank of America estimates more than 2 million Chinese workers are employed in the Apple supply chain, making it difficult target for the Chinese government.”

“In addition, Mohan said a survey of more than 194,000 consumers around the globe indicates there has been no decline in intent to buy iPhone’s. The number of respondents indicating they intend their next smartphone purchase to be an iPhone has remained steady at around 30 percent through May,” Duggan writes. “Mohan said App Store sales in China are actually on the rise. Morgan Stanley analyst Katy Huberty… said it’s unlikely China will target iPhones given they are currently produced inside China.”

Read more in the full article here.

MacDailyNews Take:

Related articles:
The phony boycott of Apple’s iPhone in China – May 29, 2019
The media is lying to you about President Trump’s China tariffs – May 15, 2019
Analyst: Apple investors ‘overreacting’ to U.S.-China trade war and Supreme Court App Store ruling – May 14, 2019
Gene Munster: Apple likely to be spared from China tariffs – May 10, 2019
Apple not yet hurt by China tariffs, likely to simply absorb the added cost – May 10, 2019
China overplayed its hand with U.S. President Trump on trade, and it could cost them dearly – May 9, 2019
Apple CEO Tim Cook optimistic about U.S.-China trade talks – February 12, 2019
President Trump says U.S. doing well in trade negotiations with China – January 23, 2019
China’s 2018 growth slows to 28-year low, more stimulus seen – January 22, 2019
Apple CEO Tim Cook: I’m very optimistic about U.S.-China trade talks – January 8, 2019
Advisor to President Trump: Apple’s sales should pick up when U.S.-China strike trade deal – January 3, 2019

This article was originally posted here