Apple shares fell 3.3 percent after analysts warned HSBC that higher tariffs on Chinese products will force the company to raise prices with serious implications for demand for Apple products.
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Analysts Morgan-Stanley warn that the failure of US-China negotiations and high tariffs could push the global economy into a long-term recession. If the Chinese government decides to retaliate, Apple's products in China could be banned, and the ban could include Chinese Apple suppliers such as Foxxcon. Revenue thus lost can easily be offset by the Chinese government through subsidies.
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The portal estimates that Huawei's major suppliers will also suffer as the drop in deliveries to the Chinese giant will be reflected in its revenue. He will have the greatest damage Qualcomm or Corning, which will lose revenue from millions of phones that Huawei sells globally.
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