Trump says Apple will be fine should still move iPhone production to

first_imgMark Wilson / Getty Images President Donald Trump is chiming in on Apple’s sales warning from earlier this week, an announcement that prompted a quick drop in the iPhone maker’s stock price.”They’re gonna be fine,” Trump said Friday at a White House news conference. “Apple is a great company.”In a letter to investors Wednesday, Apple CEO Tim Cook said revenue in the company’s fiscal first quarter would be lower than expected, a rare occurrence from one of the most valuable and profitable companies in the world. Apple shares fell 7 percent to $147 in trading after the market close on Wednesday. Shares fell another 9.5 percent to $142.88 on Thursday morning, before rebounding 1.6 percent to $144.52 in early Friday trading.Trump said Apple’s stock price has gone up “hundreds of percent” since he’s been president, but added that he wants the company to make its iPhone and other products in the US. “Don’t forget this: Apple makes their product in China,” Trump said. “I told Tim Cook, who’s a friend of mine who I like a lot, ‘Make your product in the United States. Build those big, beautiful plants that go on for miles, it seems. Build those plants in the United States.’…China is the biggest beneficiary of Apple, more than us, because they build their product mostly in China.”Neither Apple nor the White House immediately responded to requests for comment. Comments reading • Trump says Apple will be ‘fine,’ should still move iPhone production to US See it $999 Best Buy $999 • See It See It Aug 31 • iPhone XR vs. iPhone 8 Plus: Which iPhone should you buy? Preview • iPhone XS is the new $1,000 iPhone X Boost Mobile Apple iPhone XS Review • iPhone XS review, updated: A few luxury upgrades over the XR 9 Phones Politics Aug 31 • Your phone screen is gross. Here’s how to clean it Mentioned Above Apple iPhone XS (64GB, space gray) See All Aug 31 • Best places to sell your used electronics in 2019 Sprint Share your voice Apple Sep 1 • iPhone 11, Apple Watch 5 and more: The final rumors $999 See It CNET may get a commission from retail offers. $999 Tags Applelast_img

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