$Apple(AAPL.US)Citigroup: Currently over 90% of Apple's manufacturing processes are conducted in China. If Apple: 1) does not obtain exemptions from these mutually imposed tariffs; 2) needs to pay cumulative tariffs of up to 54% on Chinese products; 3) and does not reflect this cost in product pricing, this could reduce Apple's gross margin by approximately 9%.$GraniteShares 2x Long AAPL Daily ETF(AAPB.US)$Direxion Daily AAPL Bear 1x Shares(AAPD.US)
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