*By Michael Teich*
Apple may have avoided Trump's wrath in the latest [round of tariffs](https://cheddar.com/videos/china-retaliates-on-tariffs-markets-shrug) on Chinese goods, but the company is not out of the woods yet, said D.A. Davidson's senior equity research analyst Tom Forte.
There's a risk "if you see protectionist behavior from both sides ー the U.S. and China ー given that 20 percent of revenue for Apple comes from consumers in China," he said in an interview with Cheddar Tuesday. "There's still risks for Apple from a prolonged trade war."
That would only add to the issues Apple is already facing in China ー its smartphone sales are trending in the wrong direction in that country. The high price of its latest iPhone X contributed to a loss of market share, dragging it down to 6.7 percent in the latest quarter from 7.2 percent a year earlier.
That puts the company behind Chinese rivals Huawei ー which leads with 27.2 percent of the [market](https://www.idc.com/getdoc.jsp?containerId=prCHE44199418)ー OPPO, vivo, and Xiaomi.
Apple was largely spared from the latest round of tariffs levied by the Trump administration Monday ー the $200 billion worth of Chinese imports subject to the 10 percent tax do not include the Apple Watch or AirPods. And while China did quickly retaliate with its own round of $60 billion in tariffs, that country's all but exhausted its ammunition for further action, as almost all of the goods its imports from the U.S. have been affected.
Shares of Apple were up slightly Tuesday, though other companies that escaped deep impact were up more ー Fitbit, whose fitness trackers were also left out of the affected list, saw shares rise more than 6 percent, making it the biggest gainer in the Cheddar 50.
For full interview [click here](https://cheddar.com/videos/apple-dodges-bullet-in-u-s-china-trade-wars).
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
