With cellphones and other electronics now free from the planned 10% tariff until mid-December, Apple's upcoming iPhone launch and holiday season sales shouldn't be affected. Apple stock was up 4.1% at 12:15 p.m. EST; it had been up as much as 5.8% earlier in the day. So what. After a weak iPhone launch in 2018, partly due to high prices, Apple may not be able to pass higher costs on to its customers without suffering a big drop in unit sales. Now what. While Apple stock is surging on this tariff delay, the 10% tariff will go into effect later this year if the U.S. and China don't reach a trade deal by the new deadline, and if the tariffs don't get delayed further.
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Aug 23, 2019