On Friday, Apple Inc. AAPL CEO Tim Cook reportedly met with President-elect Donald Trump at Mar-a-Lago.
What Happened: This meeting marks Cook’s first interaction with Trump since his re-election last month. Cook and Trump dined together on the patio, reported The New York Times, citing two people with knowledge of the meeting.
The meeting is part of a series of visits by tech leaders to Florida, including Meta Platforms, Inc.'s Mark Zuckerberg and Alphabet Inc. CEO Sundar Pichai.
The discussions provide Cook an opportunity to seek Trump’s support on issues affecting Apple, such as European regulatory pressures on the App Store and potential tariffs that could impact iPhone sales.
See Also: Is Elon Musk Apple TV’s ‘Slow Horses’ Fan? His Reply To Tim Cook Has Everyone Guessing
Meanwhile, other tech giants are working to mend their ties with Trump, with Amazon.com Inc. founder Jeff Bezos scheduled to meet Trump next week.
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Why It Matters: Cook's relationship with Trump has been notably warmer compared to other tech executives, which has helped Apple avoid tariffs during Trump’s first term.
With Trump’s re-election, his proposed tariffs could significantly impact companies like Apple, which relies heavily on Chinese manufacturing.
Previously, it was reported that Apple and Nvidia Corp. suppliers are preparing for potential shifts in trade policies, with companies like Foxconn ready to expand U.S. operations if necessary.
Trump has previously shown a willingness to support Cook’s concerns. In a conversation with Patrick Bet-David earlier this year, Trump recalled a conversation with Cook regarding European fines against Apple.
"He [Cook] called me two, three hours ago," the President-elect stated at the time, quoting the Apple CEO saying, "The EU has just fined us $15 billion … Then on top of that, they got fined by the EU another $2 billion."
Price Action: Apple’s stock saw a modest gain of 0.069% on Friday, closing at $248.13. Year-to-date, Apple shares have climbed 33.66%, narrowly outperforming the Nasdaq 100 index, which has risen 31.65% during the same timeframe.
Latest ratings from Morgan Stanley, Needham, and Wedbush set an average target of $277.67, implying an upside potential of 11.96%, as per Benzinga Pro data.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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