Apple (AAPL) plans to source more than 19 billion chips from the US this year, part of a global supply chain shift to gradually lessen its reliance on China and elevate India for iPhone production.
He also affirmed expectations that Apple will in future make the vast majority of its US-bound iPhones in India " reducing output from China as the Donald Trump administration threatens to slap punitive tariffs on its Asian rival. India was mentioned almost as many times as China on Thursday's post-earnings conference call, reflecting its rising importance.
With Xi granting tariff exemptions and Chinese factories shuttering at warp speed, the trade war is almost over and the US is winning bigly. The Dow has now corrected to only 2.4% lower than when tariffs were first announced. Also, eggs at Walmart down about $1 in the last week per walmart.com. What will liberals have to whine about now?
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