- Sat Mar 24, 2018 8:55 pm
Trump's shambolic administration is disrupting the markets so badly that they probably feel it's worth cutting their losses.
Apple's market price is back to where it was last September, and if he gets into a trade war with China, they can kiss goodbye to some of the raw materials they need to produce smartphones at the high mark ups they were used to.
(Rare Earth metal production in China is 10x larger than the next largest producer (Australia))
The second kick in the stones is the backlash seen against Facebook user data leaks.
Apple don't just sell hardware, they collect massive amounts of personal data as well, and the US courts are far stronger on the misuse of user data than most other countries.
iirc, they can impose fines of up to $40,000 per client if it's proven that they've breached or misused their personal data.
For many companies (Google, Facebook, Twitter, Apple, Microsoft, LinkedIn etc. and so on), that could make a bigger dent on profits than the PPI scandal the banks had to stump up for so far.