|Bid||73.30 x 0|
|Ask||73.40 x 0|
|Day's Range||73.20 - 73.90|
|52 Week Range||67.00 - 102.00|
|Beta (3Y Monthly)||2.01|
|PE Ratio (TTM)||9.57|
|Earnings Date||Aug 13, 2019 - Aug 17, 2019|
|Forward Dividend & Yield||4.00 (5.44%)|
|1y Target Est||88.95|
The problem with buying American or British is that so many great products of both lands are manufactured in China. US president Donald Trump, a weathercock spinning in electoral breezes, has delayed new tariffs on some Chinese-made goods. The respite is more modest than it first appears for Apple and its Asian manufacturing partner Hon Hai.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. HP Inc.-laptop maker Inventec Corp. said it will to shift production of notebooks for the U.S. market out of China within months, adding to the tech industry’s exodus as the world’s two largest economies escalate their trade war.Inventec plans to move its entire American-bound laptop operation to its home base of Taiwan within two to three months, President Maurice Wu said on a post-earnings call Tuesday. Wu’s company assembles Apple Inc.’s AirPods and produces notebook computers for HP, which accounts for an estimated third of its revenue.Underscoring the difficulty of making such long-term production decisions, President Donald Trump said just hours later that the U.S. would push back implementation of tariffs on Chinese-made laptop and other products to December from September. But tech companies aren’t waiting for a trade resolution. From Inventec to Apple-assembler Hon Hai Precision Industry Co., Taiwanese companies that make most of the world’s electronics are reconsidering their reliance on the world’s No. 2 economy as Washington-Beijing tensions simmer.“The trade war is very painful for us,” Wu said, concluding a call during which executives shared how production shifts have hurt the company’s efficiency and margins.Rising tariffs on Chinese-made products threaten to wipe out their margins and up-end a well-oiled, decades-old supply chain. Microsoft Corp., Amazon.com Inc., Sony Corp. and Nintendo Co. are said to be among those now weighing their options away from the line of fire, such as Southeast Asia and India. Alphabet Inc.’s Google has already shifted much of its production of U.S.-bound motherboards to Taiwan, Bloomberg News has reported.Inventec’s shift marks one of the most dramatic relocations since Trump announced his decision to slap 10% tariffs on $300 billion of Chinese imports -- including consumer gadgets from smartphones to notebooks -- originally slated for next month. Spurred on by clients, which include household names like Dell Technologies Inc. and Nintendo, many Taiwanese contract manufacturers are now drawing up contingency plans, shifting select assembly operations or exploring alternative venues.Analysts anticipate the tariff delay will have little impact on those plans.“While this announcement appears to provide incremental (and market-friendly) information as to how the White House is approaching trade policy, we do not believe it represents a substantial shift in the U.S.-China dispute,” Goldman Sachs analysts wrote in response. “Our broader expectation is that the U.S. and China are unlikely to reach a lasting agreement prior to the 2020 election that provides certainty around tariff rates on imports from China.”On Tuesday, Compal Electronics Inc. Chief Executive Officer Martin Wong said his company, a rival to Inventec, has also shifted some notebook lines to Taiwan and was considering investing more in Vietnam should tariff-conflicts persist. Quanta Computer Inc. Chairman Barry Lam told reporters Tuesday his company is definitely re-locating some business to Southeast Asia, though he didn’t mention a timeframe. Chief Financial Officer Elton Yang said Quanta will for now aim to satisfy customers’ demands for production outside of China with their Taiwan facilities.U.S. companies, long accustomed to using China as the world’s workshop, are looking to diversify their manufacturing operations as the uncertainty over volatile trade policy heightens and Beijing shows a willingness to clamp down on foreign firms within its own borders. It’s a shift that may herald a broader, long-term trend as Beijing and Washington continue to spar over everything from market access to trade.The trade war threatens to disrupt a complex global supply chain involving many countries beyond just China and the U.S. Many components that go into devices aren’t made in the U.S., despite being designed there. A phone chip designed by Apple may come out of a factory in Taiwan, then be packaged (a process that prepares it for integration into a circuit) somewhere else, before being shipped to China for assembly into an iPhone.Still, few major manufacturers have moved output in truly significant amounts and China’s status as the world’s production base for electronics is unlikely to diminish anytime soon. Foxconn Technology Group has said it has enough capacity to make all iPhones bound for the U.S. outside of China if necessary, although Apple has so far not asked for such a shift.(A previous version of the story was corrected to amend HP’s contribution to Inventec’s revenue)(Updates with Trump comments in fourth paragraph.)\--With assistance from Jeanny Yu.To contact the reporters on this story: Debby Wu in Taipei at firstname.lastname@example.org;Cindy Wang in Taipei at email@example.comTo contact the editors responsible for this story: Peter Elstrom at firstname.lastname@example.org, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Taiwan's Foxconn, which makes smartphones for Apple and other brands, reported a 2.5% fall in quarterly profit on Tuesday, a slightly smaller decline than analysts' expected. Foxconn, the world's largest contract electronics manufacturer and formally known as Hon Hai Precision Industry Co Ltd, reported net profit of T$17.05 billion ($542 million) for the April-June quarter, versus an average forecast of T$16.01 billion according to 14 analysts' estimates compiled by Refinitiv. Taipei-based Foxconn, which manufactures the bulk of Apple's iPhones in China for sale in the United States, faces even more challenging quarters ahead as Washington plans to impose additional tariffs on $300 billion of Chinese imports including smartphones from Sept. 1.
(Bloomberg) -- Hon Hai Precision Industry Co., the biggest assembler of iPhones, reported better-than-projected earnings after snagging additional business from Chinese smartphone giant Huawei Technologies Co.The company reported a 2.5% decline in net income to NT$17.1 billion, compared with the average analyst estimate of NT$16.3 billion. Revenue for the April-June period reached NT$1.16 trillion, according to Bloomberg calculations from previous monthly sales data provided by the company, a record for the second quarter.Hon Hai, the biggest piece of billionaire Terry Gou’s Foxconn Technology Group, has struggled to find new sources of growth after smartphone demand began to tail off in 2018. But in the June quarter, its Hong Kong-listed subsidiary FIH Mobile Ltd. cut costs and likely won orders from rival Flex Ltd., which shunned business from Huawei in response to U.S. sanctions. While investors expect U.S. President Donald Trump’s sanctions to eventually wallop Huawei’s business, the impact of those curbs should be fully felt only in the second half of the year.Flex’s orders from Huawei had gone to FIH, and that would benefit the company’s sales momentum in the second half, analyst Arthur Liao at Fubon Securities wrote in a July 23 note.To contact the reporter on this story: Debby Wu in Taipei at email@example.comTo contact the editors responsible for this story: Edwin Chan at firstname.lastname@example.org, Colum MurphyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Taiwan's Foxconn is exploring the sale of its new $8.8 billion display panel factory in China, people familiar with the matter told Reuters, as demand for the product wanes amid an intensifying U.S.-China trade war. Foxconn, formally known as Hon Hai Precision Industry, is in talks to appoint banks to find a buyer for its liquid crystal display (LCD) factory that is being built in the southern Chinese city of Guangzhou, said two people with direct knowledge of the matter. A sale would come at a delicate time for Foxconn, which has extensive investments in China, a large roster of U.S. clients that includes Apple Inc, and is having to navigate a tricky path amid the protracted trade war between Washington and Beijing.
(Bloomberg Opinion) -- Apple Inc. executives have for months been publicly optimistic that everything will turn out fine in the trade battle between the U.S. and China. Well, maybe not.President Donald Trump on Thursday tweeted — of course — that the U.S. plans to impose a 10% tariff on the remaining $300 billion worth of goods imported from China. Smartphones are among the consumer products that haven’t been subject to earlier tariff rounds, but it’s fair to assume they will be if the U.S. moves ahead with duties on all remaining Chinese imports. Apple Chief Executive Officer Tim Cook likes to say that Apple’s smartphones are products of the world, and they are. But the bulk of iPhone manufacturing and assembly takes place in China. That means the U.S.-China trade war may finally be coming for Apple, and it shows that Cook’s personal diplomacy with the White House and in Beijing didn’t necessarily spare his company. If Trump imposes the fresh tariffs and Apple raises prices in response on the estimated 70 million or so iPhones sold in the U.S. each year, it most likely won’t crater sales, but it won’t be great for an already fragile smartphone market. Apple shares were trading down about 2% after Trump’s tweet. Shipments of smartphones have been falling globally, and signs have continued that people in the U.S. and some other countries are holding onto their phones for longer. AT&T Inc. said recently that a record-low share of its wireless monthly customers, just 3.3%, opted to buy a new smartphone model in the second quarter. Apple has been trying to lower iPhone prices through various means, and that might be tough if the company has to figure out how to manage a 10% tariff, too.Apple’s only significant smartphone rival in the U.S., Samsung Electronics Co., spreads its manufacturing assembly around the world a bit more than Apple does. It’s not clear how many of Samsung’s smartphones sold in the U.S. might be subject to fresh U.S. tariffs. Apple investors have been well aware of the risk of tariffs landing on the company’s doorstep, but the company has essentially told them not to worry. U.S. tariffs didn’t come up in Apple’s quarterly earnings call this week. In prior sessions, Cook and other executives have sounded confident that trade negotiations between the U.S. and China were improving and would eventually be resolved amicably.“I can’t predict the future, but I am optimistic that the countries will get through this, and we are hoping that calm heads prevail,” Cook told investors last year. He has echoed those comments at several points since then. That optimism has meant that Apple has said little publicly about its potential hit from tariffs, whether it would pass along costs to consumers or absorb them, or what steps it might take to mitigate the impact, such as moving some manufacturing out of China. (Apple’s primary iPhone manufacturing partner, Hon Hai Precision Industry Co., has talked about having the capacity to make iPhones outside of China.) It’s also possible that if tariffs are imposed on iPhones in the U.S., there will be ripple effects, such as China — one of Apple’s most important consumer markets — retaliating in some way against Apple products. Apple’s army of suppliers may feel the impact, too. That’s all to say that even if Apple is well prepared for the potential arrival of tariffs on its most important product, the company’s investors and most likely some of its many partners do not necessarily know about those preparations. Optimism is the attitude of a healthy person. But caution, or at least an indication that Apple has a sensible plan B, may have been a better strategy when dealing with uncertain geopolitical fights. To contact the author of this story: Shira Ovide at email@example.comTo contact the editor responsible for this story: Daniel Niemi at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Shira Ovide is a Bloomberg Opinion columnist covering technology. She previously was a reporter for the Wall Street Journal.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
SoftBank Group announced today that it will launch its second Vision Fund withparticipation from Apple, Foxconn, Microsoft and other tech companies andinvestors
(Bloomberg) -- Billionaire Foxconn founder Terry Gou never considered an independent run for Taiwan’s presidency, a spokeswoman for the electronics tycoon said, after Gou lost the nomination to lead the island’s opposition party into January’s election.Speculation that Gou will leave the Kuomintang to pursue leadership of Taiwan is a “fake issue,” his spokeswoman Amanda Liu said in a text message on Tuesday. Gou’s response comes one day after Han Kuo-yu, the firebrand mayor of the southern port city of Kaohsiung, overcame Gou and three other candidates in the party’s presidential primary.Liu declined to elaborate further when asked if Gou still intended to seek Taiwan’s presidency in another capacity, leaving the door open to speculation that the tech tycoon -- who in June quit as chairman of Hon Hai Precision Industry Co., Foxconn’s main listed arm -- would find another way to run in the election. A solo bid by Gou could have a significant impact on the outcome, likely siphoning votes from the KMT as it tries to unseat incumbent President Tsai Ing-wen.Shares of Hon Hai climbed as much as 2.8% to their highest in about two months as investors expect Gou to focus more on the company.Power BrokerThe 68-year-old is a major power broker in the global electronics industry, with unusually strong ties to both the U.S. and China. He built Foxconn Technology Group from a maker of television knobs into a global powerhouse that is now Apple’s largest supplier and China’s largest private employer, with as many as 1 million mostly migrant workers assembling everything from iPhones to Dell desktop computers.Earlier: China-Friendly Mayor Tops Foxconn’s Gou to Vie for Taiwan LeaderGou also has ties to U.S. President Donald Trump, agreeing to build a 13,000-worker facility in the state of Wisconsin in exchange for more than $4.5 billion in government incentives.Hailed by Trump as “one of the great deals ever,” the project has since been criticized for low-paying jobs and sudden dismissals. Foxconn says the plant is on track to begin producing LCDs next year.\--With assistance from Miaojung Lin and Adela Lin.To contact the reporters on this story: Debby Wu in Taipei at email@example.com;Iain Marlow in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Brendan Scott at email@example.com, Edwin Chan, Karen LeighFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Nintendo wasn't the only company this week making headlines about switches . Facebook's poker playing AI turned the tables on some Texas Hold'em pros, Foxconn pulled the old switcheroo on the state of Wisconsin, and Luminar's new LiDAR is poised to turn the autonomous vehicle market on its ear.
Apple Inc's top-end iPhones, assembled in India by Foxconn's local unit, are likely to hit Indian stores next month, a source said, potentially helping the tech giant drop prices in the world's second-biggest smartphone market. Apple did not immediately respond to a request for comment. Foxconn said it does not comment on customers or their products.
Foxconn's long-promised factory in Wisconsin will finally begin production in May 2020, but to start, it's only creating 1,500 jobs. That's far fewer than the 13,000 jobs it once said it would add. At this rate, Foxconn will likely lose out on hundreds of millions of dollars in state subsidies, many of which were meant to reward job creation.
A 25 per cent tariff will largely wipe out cost advantages of Taiwanese tech firms on the mainland, accelerating their exodus from China and lead to as many three million job losses, a Citibank study predicted on Thursday."Taiwan firms' exports account for at least 10 per cent of total Chinese exports, and 37 Taiwanese firms operating in China are in the top 100 exporters' list to US," the report said, adding that because of rapidly rising wages and other costs, labour intensive industries have already moved out of China.Citibank was recently judged by FinanceAsia as the best international bank in Taiwan.The Trump administration has imposed 25 per cent tariffs on US$250 billion of Chinese exports since the trade war started more than a year ago.Foxconn has said that it could move electronics production bound for the US market out of the mainland. Photo: Bloomberg alt=Foxconn has said that it could move electronics production bound for the US market out of the mainland. Photo: BloombergAccording to a research report by China International Capital Corp (CICC), mainland-listed companies that make computers and electronics products will be the second most affected by the additional 15 per cent tariffs that were imposed in May.The tariffs on their exports to the US will account for 18.7 per cent of their total profit in 2018, CICC said.According to Citibank analysts' estimates, based on disclosures from China's Ministry of Commerce from September 2017, Taiwanese firms employ some 10 million people on the mainland, with 60 per cent of them in the information and communication technology (ICT) industry, and their cumulative investment stands at more than US$66 billion.An outbound investment survey by Taiwan's Ministry of Economic Affairs found that 95 per cent of the employees hired by Taiwanese companies in China were in the manufacturing industry, with the share of ICT " electronic components, devices, optical products and personal computers " at 59 per cent."Assuming 30 to 50 per cent of them leave China, we estimate 1.77 million to 2.95 million job losses could take place over a couple of years," the Citibank report said.Citibank's estimates matched a poll conducted by accounting firm PwC in March. The study showed that about 40 per cent of Taiwanese firms planned to adjust their supply chain. Google denies link to China's military over touch-screen tools that may help PLAThe year-long US-China trade war has hastened the relocation of firms from not only Taiwan, but also Europe, South Korea and the US to countries in Southeast Asia. If they have not already moved, they are seriously considering diversifying their production base.In mid-June, Foxconn, which assembles iPhones in China, said the company could move electronics production for the US market out of the mainland at short notice. Reports said that the assembly of iPhones could start in India within this year.Richard Hsieh, a Taiwanese entrepreneur running a software firm in east China's Jiangsu province, said that as the advantages of cheap labour, land and electricity evens out in China, it makes economic sense for Taiwanese ICT firms to shift production elsewhere. US-China trade tensions will weigh on global economy"Many hi-tech OEMs [original equipment manufacturer) were targeted in the recent rounds of tariffs. They are the ones who were hit most heavily by the trade war," Hsieh said, adding that a supply chain reshuffle cannot happen overnight.Jason Chan, another Taiwanese businessman who runs an artificial intelligence firm in Beijing, however said he did not feel the need to shake up his supply chain."Trump can target anyone. Imagine you have just moved your factory to Vietnam and the next day Trump says he was going to impose tariffs on Vietnam," he said. "So I think compared to relocation, making good use of re-exports is more practical."Citibank analysts observed that the Chinese government, noting the exit of Taiwanese firms from the mainland, has offered them a slew of incentives, which will help to stabilise exports, employment and the economy.Taiwanese firms can take part in "Made in China 2025", enjoy favourable tax policy, and have the same rights as domestic firms participating in major national research and development projects, infrastructure projects and government backed procurement schemes."These efforts could potentially slow Taiwan firms' exodus from China, but we believe these measures may not be sufficient enough to offset the impact of tariff war," the report said.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.
(Bloomberg Opinion) -- Ten months ago, I warned that storm clouds were brewing over the global technology industry. The situation today is much worse.Back then, a U.S.-China trade war was more risk than reality, Apple Inc.’s pending iPhone update held promise, and central banks were still in tightening mode. Yet inventories at the end of June 2018 had climbed to the highest since the financial crisis a decade earlier and a sector-wide slowdown was looming.At the time, the Pollyannas were louder than the Chicken Littles. The next iPhone had yet to launch and Christmas shopping season was coming, argued the optimists.Since then, global technology companies have issued loud warnings about lost sales due to U.S. actions against Huawei Technologies Inc. In short, because the U.S. is restricting what can be sold to the Chinese giant, the company and its suppliers are cutting orders. This is causing a ripple effect from semiconductor materials supplier IQE Plc to chip designer Broadcom Inc.But there’s something you need to know about the Huawei effect: It isn’t the cause of this technology recession. If anything, the company is the reason why the situation didn’t worsen earlier. The U.S. war on Huawei propped up the tech sector, notably semiconductors, over the past year.Let me explain. Immediately after the Trump administration in May blacklisted Huawei from buying U.S. components, Bloomberg News reported that the maker of telecommunications equipment and smartphones had been been stockpiling components in anticipation of some kind of action. Chairman Ren Zhengfei saw his own storm brewing and started saving for the rainy day that came on May 17.This tells us that some proportion of global component demand over the past year wasn’t led by end-product sales, but merely by shelf-stocking. More significantly, what revenue component makers did see was probably a false signal, pointing to demand that didn’t exist.These suspicions were confirmed earlier this month when Mark Liu, chairman of made-to-order chipmaker Taiwan Semiconductor Manufacturing Co., told me that he wasn’t sure how much of his company's recent revenue had gone to supplying Huawei’s end-product demand versus building the Chinese company’s inventory. Almost every technology company is a client of TSMC. If Liu, who has the broadest and deepest picture of the global tech sector, can’t make out the difference between demand and inventory build, then you can be sure he’s not alone.There’s also solid data to show the scale of Huawei’s stockpiling. Total inventories climbed 33% last year. Its stash of components – measured as raw materials and works in progress – jumped 76%. At even its most optimistic, there’s no way that Huawei expected 76% revenue growth this year.Which brings us back to the sector as a whole.Here’s an update of the numbers compiled 10 months ago, based on nine leading technology hardware companies and charted by my colleague Elaine He. The results aren’t heartening:With few exceptions, inventories – measured in dollar terms or days outstanding – climbed since June 30, 2018, and were unequivocally higher than two years ago. The revenue slowdowns that have affected every corner of the hardware sector this year make this buildup ominous.Of even greater concern are data pointing to prolonged cash conversion cycles, a measure of how long companies take to turn manufactured goods into money. The only firm to see a solid dip is Apple, and that’s because it tends to generate revenue from customers before having to pay suppliers. Both TSMC and iPhone assembler Hon Hai Precision Industry Co. (aka Foxconn) have said they hold inventory on their books for their key client. Were it not for that fact, Apple’s rising inventory days outstanding would probably be even higher.A major reason for Hon Hai posting weak earnings in the first quarter was inventory provisions. Those can be reversed if products sitting on shelves get sold to consumers, Hon Hai CFO David Huang told me this month. But shipping an already-made device to meet demand means you don’t need to manufacture a new phone, which in turn means no need to buy components from suppliers, and so forth.That’s the situation we’re in now: plenty of inventory, false signals from the Huawei effect, and a pending global economic slowdown that’s likely to suppress demand. If that doesn’t make make you worry about the state of global technology hardware, then I applaud your optimism. To contact the author of this story: Tim Culpan at firstname.lastname@example.orgTo contact the editor responsible for this story: Matthew Brooker at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tim Culpan is a Bloomberg Opinion columnist covering technology. He previously covered technology for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- The billionaire founder of Apple Inc.’s largest supplier asked the U.S. company to move from China to neighboring Taiwan."Speaking from the perspective of the Republic of China, I will plead to Apple to come to Taiwan," said Terry Gou, who remains the largest shareholder in Hon Hai Precision Industry Co., answering a question about whether Apple will shift production away from China. He was referring to Taiwan by its formal moniker. “I believe it is possible," he said without elaborating.Louis Woo, a special assistant to Gou, later said that the executive and Taiwan presidential hopeful was urging Apple to "invest" in Taiwan, not to move plants from China.The Trump administration’s threat to levy tariffs on some $300 billion of Chinese-made goods -- including phones and laptops -- has inflamed speculation that Apple will divert some capacity away from the world’s second largest economy. And Hon Hai is the largest of hundreds of Apple-suppliers with factories on the mainland, making most of the world’s iPhones from the central Chinese city of Zhengzhou.A significant shift of manufacturing from China to Taiwan -- which Beijing views as part of its territory -- may also exacerbate tensions between the two governments. Hon Hai, the main listed arm of the Foxconn Technology Group, is today the largest private employer in China, paying as many as a million mostly migrant laborers to put together everything from iPhones to HP laptops.Gou, who is stepping down as Hon Hai chairman Friday to focus on winning a party nomination to compete in the 2020 Taiwanese presidential elections, had run a company that depends on Apple for half its revenue. It’s unclear how much capacity Gou may have been referring to, nor how feasible a large-scale move -- for Hon Hai or any other Apple supplier -- may be.The Taiwanese firms that assemble most of the world’s electronics are now expanding or exploring plants in Southeast Asia and elsewhere to escape punitive tariffs on U.S.-bound goods. But the vast majority of their capabilities remain rooted in China. The Nikkei reported this week that Apple asked its largest suppliers to consider the costs of shifting 15% to 30% of its output from China to Southeast Asia, but three major partners to the U.S. company later pushed back against that idea. Hon Hai itself has said Apple hasn’t requested such a move.(Updates with comment from Gou special assistant in third paragraph.)To contact the reporter on this story: Debby Wu in Taipei at firstname.lastname@example.orgTo contact the editors responsible for this story: Peter Elstrom at email@example.com, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Taiwan stands to gain on two fronts due to China's worsening headaches: the commercial, and the political. The trade war has hurt Taiwan's exports in the short haul, but over the long haul will benefit its manufacturing sector in particular. Meanwhile, the ongoing demonstrations in Hong Kong over the erosion of "One Country, Two Systems" have made it very clear ahead of a presidential election next year that Taiwan should not under any circumstances accept China's offer of the same scheme.
Foxconn’s founder Terry Gou wants Apple to move some production out of China and invest in Taiwan, according to Bloomberg. Yahoo Finance's Seana Smith & Dan Howley discuss on "The Ticker."
Yahoo Finance's Dan Howley reports on Foxconn officials urging Apple to move production out of China. Julie Hyman, Adam Shapiro, Brian Cheung, and Jared Blikre further discuss.
Terry Gou, the founder of Foxconn is urging Apple to move plants from China to Tawain. It's important to note, Gou has since resigned from Foxconn and is running for president of Taiwan. Yahoo Finance's Akiko Fujita, Kristin Myers and Heidi Chung discuss.