Friday, Dec 13 saw phase-one deal of the US-China trade deal. Following this, shares of Apple (AAPL) have increased considerably. The shares rose 1.36% on Friday to an all-time high of $275.30. The new tariffs will be applied from Sunday. Following this, Apple will manage to waive 15% tariff that would have been applied to some of its products.
This comes as a relief for Apple makers as most of Apple’s supply chain is in China. Apple’s China revenue fell 15.9% to $43.7 billion this year. With this trade deal, the profit margin is expected to increase.
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