Ives: Tariff pause “pulls stocks and the market from the edge,” but China remains the X factor for Apple
He says the week since the tariff rout began has “been an epic debacle.”
Dan Ives, the high-metabolism tech analyst at brokerage firm Wedbush Securities, is first to our inbox with a reaction to the president’s announcement that he would simultaneously hike tariffs on China and delay for 90 days the implementation of the sky-high broad tariffs he announced a week ago.
He writes:
“This was the news we and everyone on the Street was waiting for... Now we would expect massive negotiations across the board over the coming months including China being front and center as the biggest wild card. For tech stocks this was much needed relief and pulls stocks and the market from the edge of the cliff although China remains the biggest X variable related to Apple and the broader supply chain.”
But he adds that, relief rally aside, the tariffs have “been an epic debacle over the last week in the Beltway and real damage has already been done to the economy, but now China remains the key obstacle to figure out and this greatly impacts the US tech industry.”
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