Apple’s Highly Profitable Meal – WSJ

Call it one of the more profitable political wine-and-dines ever.

Apple CEO Tim Cook talks with President Trump earlier this year.


Photo:

Manuel Balce Ceneta/Associated Press

President

Trump

had dinner with

Apple


AAPL 1.86%

CEO

Tim Cook

on Friday. Come Sunday, the president told reporters he was evaluating the effects his planned tariffs would have on the iPhone maker, citing “a very compelling argument” on foreign competition. Apple’s shares jumped nearly 2% Monday, adding more than $17 billion to the company’s market cap by the closing bell.

Mr. Cook probably shouldn’t count his gains just yet, though. Apple has been volatile, with 20 single-day swings of 2% or more since May 1. In fact, Apple’s share price is just now getting back to its level since before Mr. Trump announced his latest tariffs on Aug. 1. Mr. Cook may want to keep his dinner calendar open.

Write to Dan Gallagher at dan.gallagher@wsj.com

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