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All eyes are on Apple, which is expected to unveil three new iPhone models Wednesday at its annual launch.
"I really want a close retreat of $ 205, about 6 to 8% less than what we have, and it would really be a better place for people to consider buying dips," Newton said.
Apple has seen some weaknesses in recent days following warnings about the impact of the Trump administration's tariffs. Since Friday, stocks have fallen more than 2%. However, Gina Sanchez, CEO of Chantico Global, says that Apple is best placed to recover from any short-term business impact.
"Apple is one of the few companies to have managed to maintain pricing power that seems to indicate that Apple's demand is more inelastic than one might think," Sanchez said. "You can impose a tax on that, that is, what is the commercial rate, and people will always buy it."
Bank of America analysts warned on Monday that $ 200 billion of proposed tariffs on Chinese products could be "materially destructive of demand." The rates would likely affect Apple Watch and AirPods.
"If you consider commercial rates as a short-term story, I think that Apple still has a long-term future," added Sanchez.
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