23 May 2025 (Punjab Khabarnama Bureau): A new announcement by OpenAI on Wednesday added to Apple’s struggles with an uncertain business environment, which is widely attributed to US President Donald Trump’s repeated calls to shift the iPhone maker’s production capacities to the United States.
Apple’s shares fell 0.5% on Thursday, on track for their seventh straight negative session after underperforming again on Wednesday. The fall is partly attributed to OpenAI’s announcement of its acquisition of a startup focused on artificial intelligence-fueled hardware. The firm was co-founded by Apple veteran Jony Ive.
From being the world’s biggest company at the start of May, in terms of market capitalization, Apple fell to third behind Microsoft Corp. and Nvidia Corp, reported Bloomberg.
Threat from fellow AI competitors apart, Trump’s repeated calls to shift the company’s manufacturing process have added to the political uncertainty among investors, the report said.
Earlier this month, the US president said he “had a little problem with Tim Cook,” and claimed that he had asked the Apple CEO to stop building plants in India.
Over the past five years, India has emerged as one of the biggest manufacturing hubs of Apple iPhones, with the company’s assembly lines in the country churning out smartphones worth $22 billion in 12 months last financial year. The US-based company produced 60 per cent more iPhones in India compared to the previous year.
Summary: Trump’s pressure on Apple to move manufacturing to the U.S. and rising AI competition deepen investor concerns, impacting Apple’s market position.