Possible AAPL Tariff Exemption, Impact of iPhone Production Shift

Apple (AAPL) sold off Friday morning following Thursday's earnings. William Kerwin notes a $900 million tariff hit for third quarter but says it's a "drop in the bucket" for Apple. He says iPhone revenue continues to be the most important driver for the Big Tech giant moving forward, which can see volatility as production moves out of China. On the upside, William sees potential for Apple to get tariff exemptions.

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