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Donald Trump Not Bothered About Apple’s Stock Price Slump

Trump did praise Apple for investing $350 billion in the US, seemingly referring to the company's announcement last January

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Donald Trump. VOA

Even as Apple Inc.’s shares fell after it lowered its revenue estimate for the first quarter of fiscal 2019, President Donald Trump has said he is not bothered about the tech giant’s concerns, the media reported.

Claiming that Apple mostly makes its products in China, Trump told reporters at a White House news conference that he does not fear the impact of Apple’s stock on the US economy, CNBC reported on Friday.

In a letter to investors on Wednesday, Apple CEO Tim Cook said that for the quarter ending December 29, the company now expects revenue of approximately $84 billion, down from the $89 to $93 billion it had previously projected.

Apple lowered its revenue guidance, which led to a fall in its stock, due to weaker than expected iPhone sales, particularly in China.

Cook acknowledged that the revenue shortfall in its guidance was partly due to China’s trade tensions with the US. The slowdown in the Chinese economy also impacted its revenue, he said.

“Apple was at a number that was incredible and they’re going to be fine. Apple is a great company,” Trump was quoted as saying.

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Not concerned about Apple’s stock price slump: Trump. VOA

Apple Inc. shares dropped 10 per cent following the iPhone maker’s warning late Wednesday, The Wall Street Journal reported on Thursday.

Trump said that China was the biggest beneficiary of Apple, more than the US “because they build their product mostly in China.”

“I told (Apple CEO) Tim Cook, who’s a friend of mine, who I like a lot, make your product in the United States,” Trump was quoted as saying.

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Apple disputes the claim that it mostly makes its products in China. In a March 2018 interview to Recode’s Kara Swisher and MSNBC’s Chris Hayes, Cook said that that many of the Apple product components are made in the US, even though Apple products are assembled in China.

Trump did praise Apple for investing $350 billion in the US, seemingly referring to the company’s announcement last January

Apple also announced in December that it would invest $1 billion in a new campus in Austin, Texas. (IANS)

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Apple Releases New Version of its Professional Music Production Software

Apple said that Logic Pro X 10.4.5 has been made available starting Friday as a free update for all existing users

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Customers walk past an Apple logo inside of an Apple store at Grand Central Station in New York, Aug. 1, 2018. VOA

Apple on Friday released a new version of Logic Pro X, its professional music production software, with optimisations that take advantage of the power of the new Mac Pro.

Logic Pro X 10.4.5 will now support up to 56 processing threads, allowing pro music producers and film composers to work through demanding music projects with ease, Apple said.

With the new Mac Pro, Logic can now run up to five times the number of real-time plug-ins compared to the previous generation Mac Pro.

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FILE – Apple’s App Store app is seen in Baltimore, MD., March 19, 2018. VOA

The new version of the music production software increases the available track and channel count for all users, now supporting up to 1,000 audio tracks and 1,000 software instrument tracks, providing four times the number of available tracks for productions.

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Apple said that Logic Pro X 10.4.5 has been made available starting Friday as a free update for all existing users, and is available on the Mac App Store for Rs 15,500 for new customers. (IANS)