Latest news with #Luxshare
Yahoo
4 days ago
- Business
- Yahoo
Apple (AAPL) Suppliers in China Slide on Trump's New Tariff Threats
Shares in China-listed Apple (AAPL, Financials) suppliers fell Monday following former U.S. President Donald Trump's threat to impose new tariffs on imported iPhones, according to a May 26 Reuters report. Luxshare, which assembles iPhones and manufactures AirPods, dropped 2.2%. Lens Technology, a screen supplier, fell 1.8%, while audio device maker Goertek declined 1.1%. Trump warned Friday that iPhones sold in the U.S. but not made there could face a 25% tariff. He also floated a 50% levy starting June 1 as part of his push to bring manufacturing jobs back to the U.S. Apple is reportedly working to shift most iPhone production for the U.S. market to India by 2026 to reduce China exposure. The former president's threat comes weeks after his administration paused broader tariff hikes to avoid further selloffs in U.S. assets. A baseline 10% tax on most imports remains, with the earlier 145% levy on Chinese goods trimmed to 30%. Commerce Secretary Howard Lutnick recently said Apple could automate U.S. production, potentially creating skilled jobs, though the company has cited technological hurdles. Quick Take: See insider trades for AAPL. Explore Peter Lynch chart for AAPL. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Express Tribune
6 days ago
- Business
- Express Tribune
Apple's China listed supplier loses stocks after Trump unveils tariffs
Apple logo is seen on the Apple store at The Marche Saint Germain in Paris, France July 15, 2020. PHOTO:REUTERS Listen to article China-listed Apple supplier stocks lost ground on Monday after US President Donald Trump threatened tariffs on imported iPhones. Shares in Luxshare which assembles iPhones and makes AirPods, fell 2.2% while Chinese mobile screen maker Lens Tech lost 1.8%. Airpod maker Goertek declined 1.1%. 🇨🇳🇺🇸A-SHARES LUXSHARE PRECISION INDUSTRY, A KEY APPLE SUPPLIER, HIT LIMIT DOWN FOR THREE CONSECUTIVE TRADING DAYS, WITH A TURNOVER EXCEEDING 3 BILLION YUAN.#CHINA $AAPL @MKTNews24 — CN Wire (@Sino_Market) April 8, 2025 Trump threatened on Friday to ratchet up his trade war again, warning Apple he may slap a 25% levy on any iPhones sold, but not made, in the US as part of his administration's goal of re-shoring jobs. His threat, along with a second that pushed for a 50% tariff on starting June 1, has raised fears that the trade war that the US is waging could intensify again after weeks of de-escalation. The White House paused most of the punishing tariffs Trump announced in early April against nearly every country in the world after investors furiously sold off US assets, including government bonds and the US dollar. Trump left in place a 10% baseline tax on most imports, and later reduced his massive 145% tax on Chinese goods to 30%. Apple is speeding up plans to make most iPhones sold in the United States at factories in India by the end of 2026 to tariffs in China. Commerce Secretary Howard Lutnick told CBS last month that the work of "millions and millions of human beings screwing in little, little screws to make iPhones" would come to the United States and be automated, creating jobs for skilled trade workers such as mechanics and electricians. But he later told CNBC that Cook told him that doing so requires technology not yet available. According to Tech in Asia, despite years of efforts to reduce China exposure, Apple remains vulnerable to tariffs with 85% of iPhones still manufactured in China. The company has made significant progress in India, shifting 50% of US-sold iPhones to Indian production and supporting Foxconn's plans for a new US$1.5 billion factory there. These diversification efforts, however, aren't enough to fully insulate Apple from tariff threats, as recent statements specifically demand US manufacturing rather than just non-Chinese production.
Business Recorder
6 days ago
- Automotive
- Business Recorder
China, Hong Kong stocks weaken as auto shares, Apple suppliers weigh
HONG KONG: China and Hong Kong stocks retreated on Monday, with automobile and Apple suppliers leading the decline. At the midday break, the Shanghai Composite index was down 0.3% at 3,338.42 points. China's blue-chip CSI300 index was down 0.7%. In Hong Kong, the benchmark Hang Seng Index was down 1% at 23,366.06. The Chinese H-share index listed in Hong Kong, the Hang Seng China Enterprises Index fell 1.3% to 8,474.69. Apple supplier stocks lost ground after US President Donald Trump threatened tariffs on imported iPhones. iPhone assembler Luxshare and mobile screen maker Lens Tech both lost 1.3%. Airpod maker Goertek declined 0.7%. Car-makers also slipped, weighing on both onshore and offshore markets. The CSI All Share Automobiles Index lost 2.8% to near a one-week low, while the Hang Seng Automobile Index in Hong Kong tumbled 4.6%. 'Sentiment has been weakening without significant fresh inflow and specific themes to trade on, analysts at China Securities said in a note. However, China's yuan has strengthened past the 7.17 level after the central bank tightened the midpoint fixing, and analysts say the strengthening trend of the currency should lend support to the nation's stocks. 'We estimate every 1% of RMB increase versus the USD could boost Chinese equities by 3%,' Goldman Sachs' China equity strategist Kinger Lau wrote in a note.
Mint
7 days ago
- Business
- Mint
China, Hong Kong stocks weaken as auto shares, Apple suppliers weigh
HONG KONG, - China and Hong Kong stocks retreated on Monday, with automobile and Apple suppliers leading the decline. ** At the midday break, the Shanghai Composite index was down 0.3% at 3,338.42 points. China's blue-chip CSI300 index was down 0.7%. ** In Hong Kong, the benchmark Hang Seng Index was down 1% at 23,366.06. The Chinese H-share index listed in Hong Kong, the Hang Seng China Enterprises Index fell 1.3% to 8,474.69. ** Apple supplier stocks lost ground after U.S. President Donald Trump threatened tariffs on imported iPhones. ** iPhone assembler Luxshare and mobile screen maker Lens Tech both lost 1.3%. Airpod maker Goertek declined 0.7%. ** Car-makers also slipped, weighing on both onshore and offshore markets. The CSI All Share Automobiles Index lost 2.8% to near a one-week low, while the Hang Seng Automobile Index in Hong Kong tumbled 4.6%. ** "Sentiment has been weakening without significant fresh inflow and specific themes to trade on, analysts at China Securities said in a note. ** However, China's yuan has strengthened past the 7.17 level after the central bank tightened the midpoint fixing, and analysts say the strengthening trend of the currency should lend support to the nation's stocks. ** "We estimate every 1% of RMB increase versus the USD could boost Chinese equities by 3%," Goldman Sachs' China equity strategist Kinger Lau wrote in a note. ** Sectors such as consumer discretionary, property, and brokers typically outperform when the yuan appreciates, he added. This article was generated from an automated news agency feed without modifications to text.
Yahoo
7 days ago
- Business
- Yahoo
Shares in China-listed Apple suppliers fall after Trump's tariff threats
SHANGHAI ((Reuters) -China-listed Apple supplier stocks lost ground on Monday after U.S. President Donald Trump threatened tariffs on imported iPhones. Shares in Luxshare, which assembles iPhones and makes AirPods, fell 2.2% while Chinese mobile screen maker Lens Tech lost 1.8%. Airpod maker Goertek declined 1.1%. Trump threatened on Friday to ratchet up his trade war again, warning Apple he may slap a 25% levy on any iPhones sold, but not made, in the U.S. as part of his administration's goal of re-shoring jobs. His threat, along with a second that pushed for a 50% tariff on European Union goods starting June 1, has raised fears that the trade war that the U.S. is waging could intensify again after weeks of de-escalation. The White House paused most of the punishing tariffs Trump announced in early April against nearly every country in the world after investors furiously sold off U.S. assets including government bonds and the U.S. dollar. Trump left in place a 10% baseline tax on most imports, and later reduced his massive 145% tax on Chinese goods to 30%. Apple is speeding up plans to make most iPhones sold in the United States at factories in India by the end of 2026 to navigate potentially higher tariffs in China. But the odds on moving production to the U.S. are slimmer. Commerce Secretary Howard Lutnick told CBS last month that the work of "millions and millions of human beings screwing in little, little screws to make iPhones" would come to the United States and be automated, creating jobs for skilled trade workers such as mechanics and electricians. But he later told CNBC that Cook told him that doing so requires technology not yet available.
