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January 28, 2016 04:00 pm
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3-bpmqw8piQ/tim-cook-whats-good-for-the-us-dollar-is-bad-for-apple
Tim Cook: What's Good For the US Dollar Is Bad For Apple
theodp writes: For years," Charles Erwin Wilson famously said back in the day, "I thought what was good for our country was good for General Motors, and vice versa." That was then. This is now. The Washington Post reports that a strong U.S. dollar is the biggest threat to Apple's business around the world. "The dollar has shot up about 22 percent against a trade-weighted basket of other currencies since the middle of 2014," explains Matt O'Brien. "And in Apple's case, that's meant what would have been $100 of foreign sales in September 2014 was just $85 by the end of 2015. That's not good when you get two-thirds of your revenue overseas." Apple blamed the strength of the dollar compared to other currencies for costing it $5 billion in revenue, "For perspective, that difference is the size of an average Fortune 500 company," quipped CEO Tim Cook.Read more of this story at Slashdot.
Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/3-bpmqw8piQ/tim-cook-whats-good-for-the-us-dollar-is-bad-for-apple
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