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Apple stocks fall 5% following Donald Trump's election and planned tariffs on China

Apple stocks fall 5% following Donald Trump's election and planned tariffs on China

Apple's stock has fallen following warnings that iPhone sales could suffer should Donald Trump increase tariffs on China when he is instated as President of the United States.

The warning caused Apple stock to drop 2.5%. It has now dropped by a total of almost 5% since the election results were announced.

Trump had previously announced plans for a 45% tariff on all imports from China. It is feared that China would make similar changes to its policies in retaliation.

Rotten luck

Apple's financials have already suffered lately. It posted its first loss in 15 years as part of its FY16 financials, with sales down $18.1 billion year-on-year.

Following the announcement of Trump's election win, Apple CEO Tim Cook sent an internal memo to all employees stating the "our company is open to all, and we celebrate the diversity of our team here in the United States and around the world."

[Source: VentureBeat]


Former Editor

Ric was formerly the Editor of Pocket Gamer and the Deputy Editor of PocketGamer.biz. He still pops up time to time to review games.

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