Wedbush analyst Dan Ives raised his Apple price target to $270, citing growing confidence in its India supply chain strategy despite ongoing tariff concerns, according to a post on X. Ives said Apple’s manufacturing shift may ease fears over iPhone tariffs and noted improving demand in China, a key market for the company. Apple CEO Tim Cook said during the company's earnings call that most U.S. iPhones will be made in India and nearly all other devices will come from Vietnam, as the company shifts production away from China. The tech giant expects a $900 million cost impact this quarter if global tariff rates and policies remain unchanged. Apple shares rose slightly during the day by 0.39% but fell in after-hours trading by 3.78%. Shares are down 12.52% year-to-date.
Category
🗞
NewsTranscript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Red Bush analyst Dan Ives raised his Apple price target to $270,
00:06citing growth and confidence in its India supply chain strategy,
00:09despite ongoing tariff concerns, according to a post on X.
00:12Ives said Apple's manufacturing shift may ease fares over iPhone tariffs
00:16and noted improving demand in China, a key market for the company.
00:19Apple CEO Tim Cook said during the company's earnings call
00:22that most U.S. iPhones will be made in India.
00:25Nearly all other devices will come from Vietnam
00:26as the company shifts production away from China.
00:30TechGiant expects a $900 million cost impact this quarter
00:33if global tariff rates and policies remain unchanged.
00:36Apple shares rose slightly during the day by 0.39%,
00:40fell in after hours trading by 3.78%.
00:42Shares are down 12.52% a year to date.
00:45For all things money, visit Benzinga.com slash GSTV.