Trump Adds To Investor's Apple (AAPL) Concerns - Baird

Baird analyst, William Power, reiterated his Outperform rating on shares of Apple (NASDAQ: AAPL) after President Trump alluded to possible tariffs on iPhones and other Apple products, which may create additional demand concerns on top of the recent supply chain rancor.

The analyst stated "While we take the negative supply chain comments with the proverbial grain of salt, there's little question that higher iPhone prices due to potential tariffs would likely negatively impact demand and profitability at some level. We certainly acknowledge the near-term risk, but remain positive on the long-term position and would buy on weakness".

No change to the price target of $230.

For an analyst ratings summary and ratings history on Apple click here. For more ratings news on Apple click here.

Shares of Apple closed at $171.50 yesterday.

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