Apple’s Tim Cook Connects with Trump Amid Regulatory Challenges

Key Meeting Highlights: Apple Inc. AAPL CEO Tim Cook recently engaged with President-elect Donald Trump at Mar-a-Lago, marking their first encounter since the election.

Details of the Meeting: According to a report from The New York Times, Cook and Trump dined together outside, with two individuals familiar with the gathering confirming the details. This meeting is part of a broader trend of tech leaders visiting Florida, including Meta Platforms, Inc. CEO Mark Zuckerberg and Alphabet Inc. CEO Sundar Pichai.

During their discussions, Cook aimed to garner Trump’s support regarding challenges Apple faces, such as scrutiny from European regulators concerning the App Store and the potential tariffs that could affect iPhone sales.

Broader Tech Landscape: Other notable tech figures are also working to reconnect with Trump, including plans for Amazon.com Inc. founder Jeff Bezos to meet him next week.

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Importance of the Relationship: Cook’s rapport with Trump stands out in the tech industry, leading to advantages for Apple, such as avoiding tariffs during Trump’s first term. As Trump begins his new term, proposed tariffs could significantly disrupt Apple’s operations, which rely heavily on Chinese manufacturing.

Reports indicate that suppliers for Apple and Nvidia Corp. are preparing for possible changes in trade policies, with companies like Foxconn ready to expand their U.S. presence if needed.

Trump has previously expressed his willingness to consider Cook’s concerns. Earlier this year, he recounted a call from Cook about hefty fines imposed by the EU on Apple: “The EU has just fined us $15 billion … Then on top of that, they got fined by the EU another $2 billion,” Trump relayed at the time.

Market Performance: On Friday, Apple’s stock increased by 0.069% to close at $248.13. Throughout the year, Apple shares have surged by 33.66%, slightly surpassing the Nasdaq 100 index, which has seen a 31.65% rise in the same period.

Recent evaluations from firms like Morgan Stanley, Needham, and Wedbush peg an average price target for Apple at $277.67, indicating a potential upside of 11.96%, according to Benzinga Pro data.

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Disclaimer: This content was partially produced with aid from AI tools and was reviewed and published by Benzinga editors.

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