On Thursday, the U.S and China came to a trade agreement. As a result, Apple products could be spared a 15% tariff (via Bloomberg News).
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An Early Christmas Present
The tariff would have applied to a number of key Apple products. These included the iPhone, iPad and MacBooks. In those circumstances, iPhone prices could have risen by $150 per unit. In a note to investors, Wedbush Securities analyst Dan Ives wrote:
Trump delivered an early Christmas present to Apple. If this tariff went through it would have been a major gut punch for semi players/Apple and could have thrown a major wrench into the supply chain and demand for the holiday season.
Analysts at Credit Suisse also cited the risk of impending tariffs when the noted declining iPhone sales in China earlier this week.
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