Wedbush Securetis Analyst Dan Ivs Slash his price targets Apple and Tesla The weekends are on the weekend because of the threat of disrupting both businesses of President Trump.
“Tariff Economic Armedon Apple, published by Trump, is a complete catastrophe due to its huge China production exposure,” said in a warning note on the Ivies Weekend. “In our view, no US technology company is more negatively affected by these tariffs compared to Apple with 90% of the iPhone produced in China.”
Wedbush has cut its price for Apple Stock by $ 75, down to $ 250 per share. Apple’s shares are trading at $ 1.8% and $ 5 this afternoon.
His price for Ivs Tesla has also been cut from $ 550 to $ 315, which is still the current share price of Tesla’s current share of $ 233.94 as 2:10 pm.
Ives says the impact of the tariff is not the only reason for decreasing the price. He also quoted the politics of CEO Elon Musk, which created a brand crisis for the auto manufacturer. Trump and its customs policies are influenced by sales in the United States and Europe and Tesla’s popularity in China is also threatened “Driving more[ing] Chinese customers buy domestic like byd, “Ives says.
“Tesla has originally become a political symbol of the world,” he WroteThe “Now is the time to take musk action, to read the house and to become a leader at this time of uncertainty.
Tesla’s shares declined by about 10% compared to Friday’s closing price, but made some return till Monday afternoon.