Trade war should 'really concern' Apple investors, hedge fund manager Dan Niles warns [CNBC]
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Source: CNBC
Hedge fund manager Daniel Niles believes there's too much optimism surrounding Apple stock. Niles, founding partner at AlphaOne Capital Partners, is worried the China trade war could hit the iPhone maker's bottom line and shock investors who are capitalizing on its record run. People are forgetting that China is 18 percent of their revenues in the most recent quarter, he said Wednesday on CNBC's Trading Nation . China is actually driving their business. So if you think about what's going on right now with the trade spat that we have going on with China, I mean this is something that should really concern you. Niles, who is underweight or short the stock depending on his particular portfolio, sees the impact directly affecting iPhone sales. It wouldn't surprise us to see smartphone growth in total being affected going forward. And, if you look at Apple itself, it's not like iPhones are growing that well, he added. His latest thoughts came as Apple was locking in
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