Daily Management Review

Goldman Sachs forecasts falling profits to Apple in case of ban in China


Per share profit of the American company Apple will fall by 29% if the Chinese authorities decide to ban its products in response to US actions against Huawei, analysts at Goldman Sachs believe.

According to analysts, this assessment includes share of China and Hong Kong in global sales of Apple, as well as the effect of reducing marketing costs. In this case, the scenario in which companies prohibit the assembly of products and the purchase of components in China was not considered.

In the second quarter of the current fiscal year (January-March), Apple received earnings per share of $ 2.46. In the last fiscal year, the figure was $ 11.91 against $ 9.21 a year earlier.

Apple did not disclose sales data in individual countries, but according to Gartner research firm, the company delivered 39 million smartphones to China, Hong Kong and Taiwan from the beginning of 2019. 83% of them went to mainland China, 13% - to Hong Kong and less than 5 % - to Taiwan.

Previously it was reported that the US authorities have added Huawei Technologies, the Chinese manufacturer of electronics and telecommunications equipment, to the list of companies that have to receive special permissions to purchase goods and services in the United States. At the same time, the Ministry of Trade has provided the company with a reprieve for a period of 90 days, during which it can acquire everything necessary to produce equipment and ensure operation of smartphones.

source: bloomberg.com

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