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Apple stock drops on report that proposed Trump tariffs could include products made in China

The ongoing trade war could hit the world's largest company.

September 7, 2018 12:55 PM

Donald Trump is at it again with another flippant comment that is affecting the stock market. Today, the president told a pool of reporters that he could impose over $200 billion of tariffs on China "if he wants."

Apple has a very special presentation planned for next week, and today's report of additional tariffs on goods manufactured in China has set the stock (AAPL) down over $3/share in less than 15 minutes. Apple recently passed a $1 trillion valuation and the company is still "Buy" rated in our Game Trader video game and tech stock ratings. With only a few minutes left in Friday trading, Apple shareholders will have to deal with a stock that is down four consecutive days in a week that shares set an all-time high of $229.67/share. Shares currently sit around $220/share.

Asif Khan

CEO/EIC/EIEIO

Asif Khan is the CEO, EIC, and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

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