Trump's Plan To Take On Apple, Samsung With A Smartphone Is A 'Fairytale': Dan Ives Warns — It Could Be A Money-Loser For His Company
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Wedbush analyst Dan Ives criticized Trump's plan to launch Trump Mobile, stating that manufacturing phones in the U.S. is unprofitable and a "fairytale." He noted that while the Trump organization could produce a limited number of phones, it would likely incur losses. The mobile service, introduced by Eric and Donald Trump Jr., will operate as a virtual network using T-Mobile's infrastructure. Ives previously highlighted similar challenges for Apple in U.S. manufacturing, suggesting that high costs would make it impractical for consumers. Following the announcement, major ETFs tracking the S&P 500 and Nasdaq fell in premarket trading.
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