Analysts: China isn’t targeting Apple in trade war

“Apple, Inc. has taken a beating in the month of May on concerns a breakdown in U.S. trade relations with China could leave Apple exposed to a potential boycott in China,” Wayne Duggan writes for Benzinga. “Two analyst said Thursday Apple’s seems to have steered clear of trade war disruption up to this point, but it’s still caught in the middle of a high-risk situation.”
“Bank of America analyst Wamsi Mohan reiterated his Buy rating and $230 price target for Apple,” Duggan writes. “Mohan said if China targets Apple, it could be inflicting more harm on itself than America. Bank of America estimates more than 2 million Chinese workers are employed in the Apple supply chain, making it difficult target for the Chinese government.”
“In addition, Mohan said a survey of more than 194,000 consumers around the globe indicates there has been no decline in intent to buy iPhone’s. The number of respondents indicating they intend their next smartphone purchase to be an iPhone has remained steady at around 30 percent through May,” Duggan writes. “Mohan said App Store sales in China are actually on the rise. Morgan Stanley analyst Katy Huberty… said it’s unlikely China will target iPhones given they are currently produced inside China.”
Read more in the full article here.
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