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Trump’s trade war means Apple’s earnings could fall by 29%

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As the trade war between the U.S. and China sees no signs of abating, investment banking firm Goldman Sachs says Apple’s earnings could take as much as a 29% hit if China decides to retaliate against well-known American companies like Apple. As Bloomberg reports:

Goldman believes Intel Corp.’s latest XMM modems for the iPhone are made in the U.S., while Apple’s A-series chips are made in Taiwan........

© Fast Company