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People in rush for iPhones ahead of Tariffs

Business News - April 8, 2025 - 8:20am
The Trump administration’s threat of massive new tariffs has sent Apple Inc.’s share price plummeting, but it also brought a short-term benefit: customers rushing to retail stores to buy iPhones. Employees from different Apple locations across the country said stores filled with customers over the weekend — with the shoppers expressing concerns that prices will climb dramatically after the levies are imposed. Most iPhones, Apple’s best-selling and most important product, are manufactured in China, which is in line for tariffs of 54%.One employee said their store was slammed with people panic-buying phones: “Almost every customer asked me if prices were going to go up soon,” said the worker, who asked not to be identified because they weren’t authorized to speak publicly.Though stores didn’t necessarily see the kind of lines that come with an iPhone launch, the atmosphere was like the busy holiday season, employees said. “People are just rushing in worried and asking questions,” one said, adding that the company hasn’t provided guidance to stores on how to handle such inquiries. The frenzy has translated to more purchases. Apple’s US retail stores saw higher sales over this past weekend than in prior years in at least some major markets, according to a person with knowledge of the matter. An Apple spokesperson declined to comment.Apple will report its fiscal second-quarter results on May 1, giving Chief Executive Officer Tim Cook and Chief Financial Officer Kevan Parekh an opportunity to discuss the effect of expected tariffs. During the holiday-quarter conference call, Cook said the company was assessing the impact but wouldn’t comment further.The stock market’s tariff meltdown has hit Apple especially hard. The company’s valuation fell by more than half a trillion dollars in the final two trading days of last week, and the stock suffered its worst three-day rout since the aftermath of the dot-com bubble in 2001.The company has been taking steps to prepare for the tariffs, including stocking up on inventory. In a bid to reduce the toll moving forward, Apple is steering more devices made in India to the US market, Bloomberg News has reported. The country is currently set to be taxed at a lower level than China. Apple also has spent years shifting more of its production to Vietnam, which will have a slimmer tariff than China. The company has manufactured Apple Watches, Macs, AirPods and iPads in that country. It also produces some Mac models in Ireland, Thailand and Malaysia. Apple’s flagship retail store on Fifth Avenue in New York was busy Monday afternoon. Ambar De Elia, a Buenos Aires native, is visiting New York and was already planning to get an iPhone 15 for her younger sister. But when she woke up this morning and saw the news about Wall Street, she thought now was the best time to splurge.Analysts and industry watchers have been trying to gauge the impact of a 54% China tariff on prices, with some speculating that iPhones could soon cost thousands of dollars apiece.In reality, Apple is likely to take a number of steps — including squeezing its suppliers and putting up with lower margins — to keep prices from soaring, Bloomberg News has reported. Apple’s latest flagship iPhone currently starts at $999 — a level that has remained constant since 2017.“I think everyone is here because of the fear, they don’t know what’s going to happen,” De Elia said. “If we have the possibility to buy something at a lower price of course we are going to.”One employee at the store said he wouldn’t be surprised to see the rush continue at stores over the next few days. Another worker noted that this is typically considered the off-peak season — new iPhones are released in September — but many customers are upgrading now.The surge could help bolster results in Apple’s third quarter, which runs through June. Since the company is selling the inventory it already accumulated, the impact from tariffs won’t likely be felt until the following quarter.
Categories: Business News

आंध्र प्रदेश के डिप्टी CM के काफिले की वजह से छूटा 30 छात्रों का एग्जाम? आरोपों पर पुलिस ने दी ये सफाई

Dainik Jagran - National - April 8, 2025 - 8:17am

डिजिटल डेस्क, नई दिल्ली। आंध्र प्रदेश के विशाखापट्टनम से एक हैरान करने वाली खबर सामने आई है। विशाखापट्टनम में 30 छात्र अपने परीक्षा केंद्र तक नहीं पहुंच सके और इंजीनियरिंग प्रवेश परीक्षा देने में असफल रहे। ऐसा आंध्र प्रदेश के उपमुख्यमंत्री पवन कल्याण के काफिले के कारण हुआ।

काफिले ने परीक्षा केंद्र तक पहुंचने के मार्ग को जाम कर दिया था। छात्रों और उनके अभिभावकों में इस घटना को लेकर भारी चिंता है। उनका कहना है कि इस घटना ने उनके शैक्षणिक भविष्य पर गहरा असर डाला है। छात्रों का भविष्य दांव पर लगा है, और वे इस घटना के लिए जिम्मेदार लोगों के खिलाफ कार्रवाई की मांग कर रहे हैं।

एग्जाम सेंटर के गेट से छात्रों को भेजा वापस

पेंडुर्थी एआई डिजिटल जेई एडवांस्ड प्रोग्राम के छात्र संयुक्त प्रवेश परीक्षा (मुख्य) दे रहे थे। साथ ही जो राष्ट्रीय प्रौद्योगिकी संस्थानों (एनआईटी) में प्रवेश निर्धारित करता है - ने कहा कि यातायात अवरुद्ध होने के कारण वे अपने परीक्षा केंद्र पर देरी से पहुंचे। उन्होंने कहा कि सभी 30 छात्रों को परीक्षा हॉल के गेट से वापस कर दिया गया और उन्हें परीक्षा में बैठने की अनुमति नहीं दी गई।

एक छात्र की मां बी कलावती ने दावा किया कि पवन कल्याण के काफिले के लिए लागू यातायात प्रतिबंधों के कारण उनके बेटे को देरी हुई। समाचार एजेंसी प्रेस ट्रस्ट ऑफ इंडिया ने कलावती के हवाले से कहा कि हम ट्रैफिक में फंस गए थे। यह इसलिए रुका था क्योंकि कल्याण अराकू जा रहे थे। एक अन्य अभिभावक ने कहा कि उन्होंने उपमुख्यमंत्री से प्रभावित छात्रों के लिए परीक्षा पुनर्निर्धारित करने पर विचार करने की अपील की है।

क्या बोला AISF?

ऑल इंडिया स्टूडेंट्स फेडरेशन (एआईएसएफ) ने परीक्षा के दौरान यातायात प्रबंधन में अक्षमता के लिए अधिकारियों को जिम्मेदार ठहराया है। एआईएसएफ का कहना है कि छात्रों को परीक्षा में बैठने का अवसर नहीं मिला।

विपक्षी वाईएसआर कांग्रेस के प्रवक्ता कार्तिक येल्लाप्रगदा ने राज्य के विज्ञान और प्रौद्योगिकी मंत्री के रूप में पवन कल्याण के प्रदर्शन पर सवाल उठाया है। उन्होंने कहा कि राज्य को एक बेहतर मंत्री की आवश्यकता है, जो सिनेमाई छवि से ऊपर उठकर वास्तविक जवाबदेही प्रदान कर सके। 

पुलिस ने छात्रों को ठहराया जिम्मेदार

पवन कल्याण के कार्यालय से संपर्क किया गया, लेकिन कोई जवाब नहीं मिला। इस बीच पुलिस ने एक पोस्ट में दावा किया कि छात्रों को सुबह 7 बजे तक परीक्षा केंद्रों पर पहुंचने की उम्मीद थी। पुलिस के अनुसार अगर ये 30 छात्र समय पर पहुंच जाते, तो यातायात में फंसने का कोई सवाल ही नहीं था।

पुलिस के मुताबिक छात्रों को सुबह 7 बजे परीक्षा केंद्र पर रिपोर्ट करना था, लेकिन वे देर से पहुंचे। उपमुख्यमंत्री पवन कल्याण का काफिला सुबह 8:41 बजे उस क्षेत्र से गुजरा, जो छात्रों के देर से पहुंचने के समय से काफी बाद का है। इससे यह स्पष्ट होता है कि उपमुख्यमंत्री का काफिला छात्रों की देरी का कारण नहीं था।

Categories: Hindi News, National News

BEL shares rise 5% after Rs 2,210 crore order win to supply EW kits for IAF helicopters

Business News - April 8, 2025 - 8:00am
Shares of Bharat Electronics (BEL) rose 5.3% to an intraday high of Rs 287.85 on BSE on Tuesday after the defence PSU secured a significant order worth Rs 2,210 crore (excluding taxes) from the Ministry of Defence. The contract is for the supply of state-of-the-art Electronic Warfare (EW) suites for the Indian Air Force’s Mi-17V5 helicopters.The advanced EW suite has been indigenously designed by DRDO’s Centre for Airborne Systems and Integrated Defence Combat Systems (CASDIC), and will be manufactured by BEL. The system includes a Radar Warning Receiver (RWR), Missile Approach Warning System (MAWS), and Counter Measure Dispensing System (CMDS), aimed at enhancing helicopter survivability by detecting and countering radar and missile threats.This order marks a strategic boost to India’s defence indigenisation efforts and strengthens BEL’s long-standing role in supporting the armed forces. With this contract, BEL’s total order intake in FY25 has risen to Rs 2,803 crore.Earlier, on April 1, BEL reported total orders worth Rs 18,715 crore for FY25, short of its Rs 25,000 crore guidance. However, it recorded a provisional turnover of Rs 23,000 crore for FY24—up 16% from Rs 19,820 crore in the previous year, beating its revenue growth target of 15%.Key orders received during the year included the BMP II Upgrade, Ashwini Radar, Software Defined Radios, Data Links, Multi-Function Radars, and EON 51, along with projects in the non-defence sector.Also Read: From Ambani to Adani: India's 4 richest billionaires lose over $10 billion in bloody Monday market crashBEL shares price targetAs per Trendlyne data, the average target price of the stock is Rs 337, which shows an upside of 24% from the current market prices. The consensus recommendation from 24 analysts for the stock is a 'Buy'.Technically, the stock’s Relative Strength Index (RSI) is at 41.9. An RSI below 30 signals oversold conditions, while above 70 indicates overbought territory. The stock’s MACD stands at 5.9, above the center line but below the signal line. BEL shares are currently trading below all key short- and long-term moving averages, including the 5-day to 200-day simple moving averages (SMAs).BEL shares price performanceOn Monday, BEL shares closed at Rs 273.1 on the BSE, down 2.5%, while the benchmark Sensex declined 1.95%. The stock is down 7% year-to-date but has gained 176% over the past two years. Its market capitalisation currently stands at Rs 1.99 lakh crore.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Categories: Business News

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