On CNBC's "Closing Bell," Daniel Niles, founding partner at AlphaOne Capital Partners, said Apple Inc. AAPL got hit hard last time there were issues with tariffs for China. The tariffs from the last year excluded iPhone, but the new tariffs are going to include it, explained Niles.
See Also: Better Than Feared: Apple Impresses Analysts With iPhone Sales, Return To Hope For China
Since these tariffs are much more damaging for the consumer companies, Niles is surprised Apple isn't down more. He isn't so impressed by the last quarter because the company missed the iPhone sales and services expectation. Wearables did really well, added Niles. He sees the company's big cash position as a big positive. Apple keeps increasing the dividend and buying back shares.
Niles wouldn't own the stock in the fourth quarter. The stock closed Thursday's session at $208.43 per share.
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