With shares of Apple buying and selling at a degree we haven’t seen since 2017, Donald Trump at a press convention yesterday confidently stated that Apple is “going to be fine.” Oddly sufficient, although maybe not all that stunning, Trump additionally claimed that shares of Apple have gone up “hundreds of percent” since he turned president.
When requested if he was involved about Apple shares slumping, Trump answered: “No, I’m not. I imply, look, they’ve gone up rather a lot. You know, they’ve gone up a whole lot of % since [I’ve become] president. Apple was at a quantity that was unimaginable, and so they’re going to be tremendous.”
The factor is, Trump’s assertion right here is unabashedly false and simply disproven.
When Trump took the oath of workplace in late January of 2017, Apple shares opened at $120.45. And with shares of Apple now buying and selling at 148.26, Apple’s inventory value has gone up by 23% during the last two years. At its peak, when Apple shares had been buying and selling at $232 ranges, the value had appreciated by 92%, a formidable acquire to make sure, however definitely not within the “hundreds of percent” vary.
Numbers apart, Trump as soon as once more introduced up the notion that Apple may need to take into account manufacturing iPhones within the United States.
“Don’t forget, Apple makes their products in China,” Trump stated. “I told Tim Cook, a friend of mine, make your product in the US. Build those big, beautiful plants that go on for miles. Build those plants in the US. I like that even better…China is the biggest beneficiary of Apple.”
“My focus is the United States,” Trump later added. “I want to get those companies to come back. I want Apple to make their iPhones and all of the great things that they make in the United States.”
Of course, the notion of Apple manufacturing the iPhone within the United States isn’t all that real looking. Not solely is it cheaper to fabricate the iPhone in China, the logistics make all the course of way more seamless.
To this level, an nameless Apple government just a few years again relayed the next concerning the iPhone manufacturing course of.
“The entire supply chain is in China now,” the manager stated. “You want a thousand rubber gaskets? That’s the manufacturing facility subsequent door. You want 1,000,000 screws? That manufacturing facility is a block away. You want that screw made a little bit bit completely different? It will take three…