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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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Trump, U.S.
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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Tech Giant Apple Becomes One of The Fastest-Growing Brands in India

The Cupertino-based tech giant is fast selling almost all products -- iPhones, Apple Watch, Mac desktops and AirPods Pro -- apart from a growing Apple TV community in India

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Apple still continues to be an aspirational brand in India and the success of the iPhone XR and iPhone 11 indicates that Apple can grow faster in India provided with the right channel and pricing strategy in place. Pixabay

Riding on the strong demand for iPhone XR and iPhone 11, Apple became one of the fastest-growing brands in India in the fourth quarter of 2019, capturing 2 per cent market share with a year-on-year growth of 41 per cent, Counterpoint Research said on Friday.

On an annual level, Apple shipments are set to rebound in India during 2019 with an estimated growth (YoY) of 6 per cent.

“This is compared to a 43 per cent decline it had during 2018, thanks to the price correction of iPhone XR, revamped channel strategy and expansion of local manufacturing in India,” Tarun Pathak, Associate Director, Counterpoint Research, told IANS.

The initial strong demand for the iPhone 11 series was driven by aggressive pricing, promotional and channel strategy. “The EMI along with cashback offers on iPhone 11 series especially iPhone 11 did well during the important festive launch,” Pathak added.

Additionally, the fastest ever roll-out in India ahead during the festive season led to the strong initial shipments. In fact, price cut on iPhone XR immediately made it the best selling iPhone within Apple portfolio for two successive quarters (Q2 2019, and Q3 2019).

Apple
Riding on the strong demand for iPhone XR and iPhone 11, Apple became one of the fastest-growing brands in India in the fourth quarter of 2019, capturing 2 per cent market share with a year-on-year growth of 41 per cent, Counterpoint Research said on Friday. Pixabay

The Cupertino-based tech giant is fast selling almost all products — iPhones, Apple Watch, Mac desktops and AirPods Pro — apart from a growing Apple TV community in India. The reason for Apple’s rise lies in a better understanding of a market that requires unique customer strategies and mind games, not seen in other, more evolved smartphone territories.

“Apple still continues to be an aspirational brand in India and the success of the iPhone XR and iPhone 11 indicates that Apple can grow faster in India provided with the right channel and pricing strategy in place,” said Pathak.

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iPhone XR is being manufactured at Apple supplier Foxconn’s facility in Sriperumbudur, Chennai and iPhone 7 and 6S being assembled at supplier Wistron’s facility in Bengaluru. (IANS)