ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/apple” target=”_blank”>Apple shares fell 7% in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/frankfurt” target=”_blank”>Frankfurt after U.S. President data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/panache/panache-people-101/donald-trump/profileshow/79057526.cms”>Donald Trump announced sweeping ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/tariffs” target=”_blank”>tariffs on trading partners including ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/china” target=”_blank”>China where the U.S. group has a big manufacturing base.
If Apple cannot get exempted this time and assuming Apple gets hit by the accumulative 54% China tariffs and does not pass it through, we estimate about 9% negative impact to the company’s total gross margin,” wrote Citi in a note.
Citi estimates Apple has more than 90% of its manufacturing in China.
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