Make or Break Week as Strong Tech Results Lift Stocks
Christine Short, vice president of research with Wall Street Horizon, joined Cheddar News to discuss Wednesday's trading session as positive earnings from some tech companies lifted stocks. "This is the safe haven for investors, the barometer of global growth depending on the company we're talking about," she said.
Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump’s tariffs on its business. Apple’s earnings for the first three months of the year topped Wall Street’s expectations thanks to high demand for its iPhones, and the company said tariffs had a limited effect on the fiscal second quarter’s results. Cook added that for the current quarter, assuming things don’t change, Apple expects to see $900 million added to its costs as a result of the tariffs.
