Table of Contents

• Apple

• Alibaba

Top Stories Today

Apple

President Trump criticized Apple CEO Tim Cook over the company's plans to expand manufacturing in India, urging the tech firm to prioritize production within the United States. Despite Apple's commitment to invest heavily in the U.S., it has been accelerating its efforts to reduce dependence on China by boosting iPhone assembly in India. Trump expressed frustration, insisting Apple should focus its manufacturing efforts domestically. While Apple has some facilities in the U.S., including a Texas site for AI servers, experts argue shifting iPhone production stateside would significantly raise costs.

Alibaba

Alibaba's stock dropped 7.6% after the company reported quarterly earnings that missed analyst projections for both sales and profit. While overall revenue and net income improved compared to the prior year, results fell short of expectations, partly due to economic challenges and trade tensions impacting consumer spending in China. Alibaba highlighted growth in its core online shopping platforms and cloud business, supported by rising demand for AI-related services. The company plans to ramp up investments in faster delivery services and artificial intelligence, but continues to face intense competition from domestic rivals.

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