Analyst says Trump’s tweet on Friday was “a gut punch” to Apple

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This past Friday, U.S. President Donald Trump was upset because China had retaliated against his latest tariff declaration. So the president sent out a tweet in which he “ordered” U.S. companies to pull out of China. While it isn’t clear whether the president has this power (Trump economic adviser Lawrence Kudlow says that he does), the tweet might have concerned Apple enough to speed up any plans in place to move some of its production out of China. Because Apple designs the iPhone in the states and has it largely assembled in China, the product is considered a Chinese import and thus elgibile …

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