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Trade war

One-third of Apple earnings at stake if China retaliates: Goldman

Wall Street outlines risks for US smartphone maker following Huawei ban

Goldman Sachs estimates that Apple could suffer a 29% drop in earnings if China retaliates against the U.S. ban on Huawei.   © Reuters

NEW YORK -- Apple faces a threat to nearly one-third of its earnings if the U.S. export restrictions against Chinese company Huawei Technologies prompt retaliation by Beijing, Goldman Sachs has warned.

The American tech giant's earnings per share could dip as much as 29%, or $3.35, if China restricts the sale of Apple products, Goldman estimated in a report Wednesday.

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