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Jefferies Comments on Apple (AAPL) and Trump Tariffs
November 15, 2024 6:44 AM ESTJefferies analyst Edison Lee reiterated a Hold rating and $211.84 price target on Apple (NASDAQ: AAPL)
The analyst comments "Trump may raise tariffs on Chinese imports to 60% and elsewhere to 10%. In Trump's last presidency, AAPL was exempted from import tariffs. Since then AAPL has pro-actively diversified its production away from China, but so far only ~10% of iPhone is made outside China. It is poss AAPL will get exemption again. But if not, our analysis indicates AAPL's GM could potentially be impacted by 3.0-6.7ppt, and our DCF value by ~5% to 10%, assuming... More

