In last week’s apple stock news, we mainly focused on Apple’s dive into the self-driving space, its partnership with Shopify to expand its iMessage Business Chat, and Apple’s broadening presence in the budding tech hub of Seattle.
In the past week Apple’s stock price (Nasdaq: AAPL) saw a sudden increase of 3.12% at the beginning of July 1st induced by the agreement U.S. President Donald Trump and Chinese President Xi Jinping reached at the G20 meeting in Osaka Japan over the weekend. The price decreased slightly later on that day and remained stable in the following days.
This week we focus on the latest update of Trump-Xi trade war, famed designer Jony Ive’s leave from Apple and Apple Music’s announcement to hold Up Next Live this summer.
Famed Apple Designer Jony Ive is leaving Apple, collaboration will continue
Jony Ive announced that he is leaving Apple and is about to set up his new company in creative business named LoveForm, with Apple as the first client. Jony Ive has worked as Apple’s chief design officer for nearly 30 years, his impact on the company can be seen from classical individual device such as iPod, iPhone and Mac to the “Spaceship” Apple Park.
Apple’ stock price fell 1.17% on 28 June, after the news was released on previous day.
An article was published on June 30 in the Wall Street Journal, implying the reason why Jony Ive is leaving Apple is that he was disappointed by Tim Cook’s lack of interest in design. Tim Cook fired back at the article, calling it “absurd” and “distorts relationships, decisions and events”.
U.S. and China agreed to make concessions on both sides of the trade war
During the G20 meetings, Trump relaxed his ban on US companies doing business with Chinese high-tech giant Huawei, the leading company in the emerging 5G market. Besides, Trump also agreed not to add new tariffs on Chinese exports, but the earlier 25 percent duty will remain. Correspondingly, Xi promised that China would import more agricultural goods from the U.S..
Induced by the news, Apple’s stock price saw an apparent increase on July 1st after the weekend. According to Wedbush analyst Daniel Ives, Apple is the big winner of the trade war truce since it has become the poster child of American companies faced with the trade war. He also thought Apple would set aside its plan to move its production out of China as long as the trade negotiations are on track.
Apple Music brings Up Next Live to global cities this summer
On July 1st, Apple announced to hold Up Next Live this summer, inviting Apple Music Up Next artists including “Bad Bunny, Daniel Caesar, Khalid, Ashley McBryde, King Princess, Lewis Capaldi and Jessie Reyez”. These 7 artists will perform after-hour concerts at 7 different Apple Store locations all over the world.