Finance

Trade war fears are spoiling Apple’s great quarter

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Apple CEO Tim Cook

Spencer Platt | Getty Images

Apple on Wednesday evening reported stronger-than-expected earnings for the fourth quarter and analysts mostly put out glowing reviews. Yet the stock is barely higher Thursday morning.

That’s because of a report on Thursday revealed China is doubtful about reaching a comprehensive long-term trade deal with the U.S., a notion that could raise supply costs for Apple and derail rebounding sales of the iPhone in the emerging market.

“Trade tensions also remain a key area of concern,” Jim Suva, Citi’s senior tech analyst said in a note Wednesday after the earnings report.

The shares traded above $252 at one point in after hours trading, but was back…



Source cnbc.com

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