Having recovered from the overnight losses following news that chief design officer Jony Ive is leaving the company, Apple shares are sliding once again as WSJ reports that the tech behemoth will move manufacturing of its new Mac Pro computer to China.
President Trump will likely not be best pleased as the $6,000 desktop computer had been the company’s only major device assembled in the U.S., but now Apple has tapped contractor Quanta Computer Inc. to manufacture the computer and is ramping up production at a factory near Shanghai, according to people familiar with its plans.
President Trump has pressured Apple to make some iPhones, Macs or iPads in the U.S. since the 2016 presidential campaign. He told The Wall Street Journal in 2017 that Mr. Cook promised to build “three big plants, beautiful plants” in the U.S., a claim Apple declined to comment on at the time. Last year, as his administration imposed tariffs on imports from China, Mr. Trump said the only way to ensure prices for Apple goods don’t increase would be to make products in the U.S.
However, as WSJ notes, while it shifts Mac Pro production to China, Apple more broadly also is considering moving some of its assembly work out of China because of concerns about U.S. tariffs, The Wall Street Journal reported last week. One of the people familiar with Mac Pro plans said that same consideration also could extend to the Mac Pro, with Ireland as an alternate possible site.
via ZeroHedge News https://ift.tt/2FEx64l Tyler Durden