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Apple shares slide amid earnings concerns over Trump tariffs on China

  • Apple shares dropped more than 3% on Monday after President Donald Trump announced 10% tariffs on imports from China, where the tech manufacturer assembles its iPhones and other products.
  • The company reported 4% revenue growth last week to $124 billion in the December quarter, but sales in China, Taiwan, and Hong Kong declined 11%.
  • The financial impact of the tariffs on Apple may depend on how much production can be moved outside of China, according to Bank of America Securities analyst Wamsi Mohan.
  • Analysts expect Apple to report earnings of $7.34 for the fiscal year ending in September, despite the uncertainty caused by the tariffs.
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CryptoPanic broke the news in on Monday, February 3, 2025.
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