What you need to know
- An analyst says that Apple stands to lose more than most in the 'Cold Tech War' going on between the U.S. and China.
- Dan Ives at Wedbush says Apple and Tesla are 'disproportionately impacted' by the issues.
A new report from Wedbush analyst Dan Ives says that Apple and Tesla stand to lose more than most in the ongoing 'Cold Tech War' raging between the U.S. and China.
According to Ives, its heavy reliance on China for its manufacturing of devices like the iPhone 12, as well as its large revenue base in the country could serve to cause some concern, however, he notes that the "bark has been worse than the bite" in terms of material impact so far. He says the issue remains a "clear risk".
Ives retained an 'outperform' rating for Apple's stock price, setting an ambitious target of $185, it is currently trading around $126.
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Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design.
Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9