Investing.com -- Apple Inc (NASDAQ: AAPL ). CEO Tim Cook is said to be meeting with President Donald Trump at the White House on Thursday, Bloomberg reported citing a person familiar with the matter. The specifics of their discussion were not disclosed.
Since President Trump's reelection, Cook has been among the tech leaders striving to maintain a strong relationship with the president. He attended the president's inauguration last month and visited his Mar-a-Lago estate in Florida during the presidential transition.
Apple Inc., under Cook's leadership, is currently navigating a potentially precarious situation due to the escalating trade dispute between the U.S. and China. The company is grappling with the challenge of President Trump's 10% tariff on goods manufactured in China, as it attempts to boost lagging iPhone sales.
China, where Apple has its largest manufacturing hub, is considering an investigation into the company's policies and the fees it imposes on app developers. Meanwhile, the U.S. remains Apple's biggest market.
In other recent news, Apple has unveiled its new iPhone 16e, marking a significant step with the introduction of its first custom-designed modem chip, the Apple C1. This development signals a strategic shift away from Qualcomm (NASDAQ: QCOM ), previously a key supplier for Apple's modem chips. The iPhone 16e, priced at $599, features advanced capabilities such as the A18 chip, a 48MP Fusion camera, and satellite connectivity options. Analysts from Goldman Sachs and Evercore ISI have maintained their positive outlooks on Apple, with Goldman Sachs keeping a Buy rating and a $294 price target, while Evercore ISI maintains an Outperform rating with a $260 target. Both firms highlight the iPhone 16e's potential to drive growth and innovation within Apple's product line. Additionally, Cercano Management has reduced its stake in Microsoft (NASDAQ: MSFT ) by 36% over two years while increasing investments in Apple, Alphabet (NASDAQ: GOOGL ), and Meta (NASDAQ: META ). This shift in investment strategy reflects a broader diversification approach within the tech sector.
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