Trump Says Apple Will 'Be Fine' Despite Earnings Downgrade and Claims Stock is Up 'Hundreds of Percent'

Discussion in 'Politics, Religion, Social Issues' started by MacRumors, Jan 4, 2019.

  1. MacRumors macrumors bot

    MacRumors

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    In a press conference at the White House this afternoon, U.S. President Donald Trump weighed in on Apple's recent revenue woes, suggesting the company will "be fine" despite its downgraded Q1 2019 guidance.

    When asked about Apple's announcement and its potential impact on the U.S. economy, Trump erroneously said that Apple has "gone up hundreds of percent" since he's been president. "Apple was at a number that was incredible and they're going to be fine. Apple is a great company," Trump said.

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    Image: Nicholas Kamm/Associated Free Press/Getty Images​

    Apple has not, of course, seen a "hundreds of percent" increase in its stock price, with the number instead at around 20 percent since Trump's January 2017 inauguration.

    Trump went on to say that he's unconcerned about Apple because its devices are made "mostly in China," seemingly blaming that fact for Apple's financial issues. He also once again reiterated that should Apple move its manufacturing to the United States, and suggested he's friends with Apple CEO Tim Cook.
    Apple outlined many reasons for the change in its guidance, which is now at $84 billion and down from the $89 to $93 billion November estimate, but manufacturing problems in China were not among those reasons.

    Instead, Apple said that the issue was caused by Chinese consumers not purchasing iPhones, which is unrelated to where iOS devices are assembled.

    Apple also pointed towards iPhone launch timing, a strong U.S. dollar, supply constraints, trade tensions, and weak iPhone upgrade numbers due to fewer carrier subsidies and the low-priced battery replacements that were available throughout 2018.

    According to Apple CEO Tim Cook, rising trade tensions between the U.S. and China caused by Trump's trade war have had an impact on Apple's bottom line. Back in November, Trump suggested that a 10 percent tariff could be implemented on iPhones and laptops imported from China, but thus far, additional tariffs have not been imposed.

    Note: Due to the political nature of the discussion regarding this topic, the discussion thread is located in our Politics, Religion, Social Issues forum. All forum members and site visitors are welcome to read and follow the thread, but posting is limited to forum members with at least 100 posts.

    Article Link: Trump Says Apple Will 'Be Fine' Despite Earnings Downgrade and Claims Stock is Up 'Hundreds of Percent'
     
  2. ericgtr12 macrumors 65816

    ericgtr12

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    You bet, and we'll also have a border wall funded by Mexico, "the best people" who won't end up in prison and the best most bigly stock market even known to man.
     
  3. itsmilo macrumors 68020

    itsmilo

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  4. SkippyThorson, Jan 4, 2019
    Last edited: Jan 4, 2019

    SkippyThorson macrumors 65816

    SkippyThorson

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    THE LOOK ON TIM'S FACE!!!!! :p:p:p

    [​IMG]

    Hundreds of percent. He said hundreds of percent.
     

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  5. Labeno macrumors 6502

    Labeno

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    #5
    An iPhone made in the USA would probably start at $3000
     
  6. Nicksd84 macrumors 6502a

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    #6
    Sigh... doesn't understand a thing about the global economy. How's that foxconn plant working out.
     
  7. hagar macrumors 6502a

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  8. BB8 macrumors regular

    BB8

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    #8
    Cheap words coming from the guy who is responsible for much of the market's recent volatility.
     
  9. MattMJB0188 macrumors 68000

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    #9
    But do we take anything 'Trump' says seriously? I think not.
     
  10. mabaker macrumors 65816

    mabaker

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  11. Brandhouse macrumors 6502

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    #11
    Your president is an imbecile.

    One of the factors that have brought it down is the China/US trade war, but he won't acknowledge that.
     
  12. bigandtasty macrumors 6502

    bigandtasty

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    #12
    Love that look on Tim's face, makes me laugh every time I see it. Reminds me of Beaker from Muppets...
     
  13. Mike MA, Jan 4, 2019
    Last edited: Jan 5, 2019

    Mike MA macrumors 68000

    Mike MA

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    #13
    One more proof that Trump doesn’t have a clue what he’s talking about - day by day.
     
  14. Mackinjosh Suspended

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    #14
    This coming from a guy who still claims Mexico is going to pay for the wall...while at the same time shutting down the government because he wants money from American taxpayers to pay for the wall.
     
  15. thadoggfather, Jan 4, 2019
    Last edited: Jan 4, 2019

    thadoggfather macrumors G4

    thadoggfather

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    #15
    In before the reeeeeeeeeeeeeeeeeeeee


    Orange man bad
    Orange man to blame for $1000 iPhone pricing established retroactive to the trade war
    Orange man stifles innovation

    .... AND! Orange man erroneously talks stocks. That is, when Orange man isnt making typos.

    Also how dare he defend Apple, I am so upset he didn’t say they’re doomed.

    My day is ruined. Like yesterday, the day before, tomorrow, And the day after.
    I suspect orange man pooped in my cereal too because it tasted kinda funky this morning.
     
  16. Aluminum213 macrumors 68040

    Aluminum213

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    #16
    I’m Sure Apple is now on the verge of bankruptcy lol
     
  17. thadoggfather macrumors G4

    thadoggfather

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    They’ll have to explain all the now useless dongles in a landfill after filing... that cant be good for the ole environment
     
  18. Loge macrumors 68030

    Loge

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    #18
    Well he didn't say the number of hundreds was greater than 1.
     
  19. JayMysterio macrumors 6502a

    JayMysterio

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    #19
    I just have to throw it in there again because it's so great...

    And some say that new rep from NY is worth a hundred memes. :D:D:D
     
  20. scrapesleon macrumors 6502a

    scrapesleon

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    #20
    moving manufacturing to the United States will only lead to higher prices
     
  21. kwikdeth macrumors 65816

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    #21
    i dislike both of them for different reasons... but man that picture is hilarious.
     
  22. thadoggfather, Jan 4, 2019
    Last edited: Jan 4, 2019

    thadoggfather macrumors G4

    thadoggfather

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    #22
    How dare Trump say the trillion dollar company will ‘be fine’!

    He doesn’t know what he’s talking about, Apple wont be fine!

    Wait... does one now have to go against Apple just to spite the man? That’s great :D
    --- Post Merged, Jan 4, 2019 ---
    These are personal favorites of mine as well

    I just noticed he is wearing a purple resistance tie too. Bahahahaha!
     

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  23. BODYBUILDERPAUL macrumors 65816

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    #23
    Oh my God.
    Thank God that Tim knows business well!
     
  24. LizKat macrumors 601

    LizKat

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    #24

    Tim looked like he was wondering if there was any way to double down on Rex Tillerson's reportedly having once called Trump "a ****ing moron" during an official meeting -- and whether it was worth finding that out today, or Cook should man up and let some other hapless CEO completely lose it and go for broke on live TV sometime.
     
  25. Moonjumper macrumors 68000

    Moonjumper

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    #25
    He did, because hundreds is plural. But even at the lowest possible number of 200%, he has only inflated the number ten fold. Not bad compared to his usual overstatement.
     

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