United States

Apple 'gut punch': Trade war will cut iPhone sales by 8 million, analyst says

New York (CNN Business)If the Trump administration makes good on its latest tariff threat, Apple would be a big loser.The tariffs could knock down iPhone sales by between 6 million and 8 million in the United States next year, said technology analyst Dan Ives, of Wedbush Securities, in a note to investors Friday. That could cut Apple's earnings by 4% in 2020.President Donald Trump on Thursday threatened a 10% tariff on the remaining $300 billion of Chinese goods that are not currently subject to tariffs. Those goods, which will include laptops, smartphones and other technology, will hit the American tech industry particularly hard.The tariff threat "brought back a dark cloud over Cupertino," said Ives. He called the tariffs a "gut punch for ...