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Apple Falls After Trump Suggests iPhones Could Get Hit by Tariffs

  • Consumers could absorb price increase, president tells WSJ
  • RBC cuts earnings estimates on softer demand for the iPhone
Bloomberg business news
Tom Forte, analyst at D.A. Davidson, says tariffs on Apple products are a "tremendous risk."Daybreak: Americas." (Source: Bloomberg)
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Apple Inc.continued its downward slide Tuesday after U.S. President Donald Trump suggested that 10 percent tariffs could be placed on mobile phones, like the iPhone, and laptops made in China.

The shares, which have lost about a fifth of their value in a tech market rout since October, were down 1.5 percent to $172.02 Tuesday morning in New York. On Monday, Apple briefly ceded its crown as world’s most valuable publicly traded company to Microsoft Corp.