Trump asks Apple to make iPhones in US, not China
As Apple went on to receive a huge blow to its stock presence, Donald Trump says that it isn’t much concerned about the stock plunge but that it makes its products in China.
The US President was lately been asked his comments on the large Apple reserve wipeout which recently shook the company. The comments as passed by Trump on the subject matter weren’t very encouraging for the company. He mentioned that he knows Apple is a good company and that it would be fine. The matter which concerned him was the fact that Apple makes its products in China and not the US.
“Don’t forget. Apple makes their products in China. I told Tim Cook, a friend of mine, make your product in the US. Build those big, beautiful plants that go on for miles. Build those plants in the US. I like that even better…China is the biggest beneficiary of Apple,” Trump was found as saying.
TRUMP: “Don’t forget. Apple makes their products in China. I told Tim Cook, a friend of mine, make your product in the US. Build those big, beautiful plants that go on for miles. Build those plants in the US. I like that even better…China is the biggest beneficiary of Apple.” pic.twitter.com/tNK6OZVeDo
— Aaron Rupar (@atrupar) January 4, 2019
Apple has been in downwards parade lately. The company had lost a whopping $452 billion in market capitalization since October, a major blowout came this Thursday when on a day alone, the company lost tens of billion dollars. This Thursday, Apple’s CEO wrote a letter to its investors telling them about the down-slide.
To put things in perspective, the value which the company has lost is bigger than the total value of Facebook and about three times the value of the famous fast food chain McDonald’s. The company had very recently become a trillion dollar company but now the company’s value stands at $674 billion. Apple mentions cheap battery replacement as the cause for the poor iPhone sales.