Apple Trade Problem Is So Big, As US China trade war escalates, last time Apple did this, it rallied 130%, Even the Bulls Are Getting Worried. Stocks are seeing a small bounce Tuesday morning, but are still down sharply in the past week as trade tensions roil markets.
The last three times the stock experienced a golden cross – in 2009, 2013 and 2016 – it rallied around 540%, 110%, and 130%, respectively, through to its peak years after. China has already retaliated with additional tariffs on $60 billion worth of US imports to China, including chemicals and frozen produce, raising the real danger of further escalation from the US.
The S&P 500 Index shed roughly $1.1 trillion of value while the Dow Jones Industrial Average and the Nasdaq Composite Index fell 2.38% and 3.41%, respectively. Whenever new tariffs are announced, investors must keep an eye on the details because it’s possible that some of Apple’s products could get caught in the crossfire.
Investor concerns are well founded, Wedbush analyst Dan Ives said in an interview on Monday, because Silicon Valley is a major target in this trade war. And even tech companies as powerful as Apple and Intel can’t do much to avoid being hit.
Tech Red Wedding https://t.co/me8C5B3Abp
— Alexia Bonatsos (@alexia) 13 May 2019