Apple jumps for more trade war pain, repurchase of decorations

By Stephen Nellis, Akash Srivam

San Francisco (Reuters) -Apple on Thursday cut off its shares by $ 10 billion, and CEO Tim Cook told analysts that the rates could add about $ 900 million in costs this quarter, as the iPhone manufacturer changes its vast supply chain to minimize the impact of President Donald Trump’s war.

Cook also said that the expected expenses of $ 500 million of Apple to expand its North -American footprint would involve both capital and operational expenses as servers and chip factories are built with its manufacturing partners. He also exposed how Apple has begun to build a stock of products so that most of its devices sold in the United States this quarter will not come from China.

As a whole, analysts said that the movements showed one of the most profitable companies in the history of companies that beat their hatches as they move to the unregistered waters.

“We hoped to see more rewards. Knowing the company, this indicates that Tim Cook is collecting money in difficult times,” said Thomas Monteiro, an Investing.com senior analyst. “Although this is not exactly a problem in itself, it certainly suggests that the company is not as safe about its future in the short term as in the previous quarters.”

Apple shares dropped by 4.3% after the company published quarterly results.

So far, the trade war has not been a problem for Apple’s sales, and Cook said that the company did not see that consumers rushed to store in Apple items.

Cupertino’s company, based in California, said that the sales and benefits of the second fiscal quarter ended on March 29 were 95.36 billion dollars and $ 1.65 per action, respectively, compared to the estimates of analysts of 94.68 billion dollars and $ 1.63 per action, according to LSEG data. Iphones sales were $ 46.84 billion, compared to estimates of $ 46.17 billion, according to LSEG data.

For the current fiscal trimester, Apple’s executives said that the company is expecting a single digit revenue from low to medium to medium, which fits the 4.28% growth analyst’s expectations of up to $ 89.45 billion, according to LSEG data.

But Apple predicted a success on the gross margins, which said it will be 45.5% to 46.5% in the third fiscal quarter, which is below the estimates of 46.58% analysts, according to LSEG data.

Cook said that for the quarter ending in June, “assuming that the current types of world rates, policies and applications do not change for the balance of the quarter and not add new rates, we love the impact on adding $ 900 million to our cost.”

He said that most iphones sold in the United States in the present quarter will come from India and that most iPads, Macs and Apple Watches will come from Vietnam. Cook said that the vast majority of Apple products for US markets will continue to be from China.