Apple Inc. AAPL, -0.38% could be hit hard if China imposes a retaliatory ban against its products, but the founder and chief executive of Huawei Technologies Co. doesn't think it'll come to that. In an interview with Bloomberg Television published Sunday, Ren Zhengfei said he'd "protest" such a move. "That will not happen, first of all. And second of all, if that happens, I'll be the first to protest," Ren told Bloomberg. "Apple is my teacher, it's in the lead. As a student, why go against my teacher? Never." Last week, Goldman Sachs warned Apple's per-share earnings could take a 29% hit if China stops importing its products. Ren acknowledged that the Trump administration's import ban against Huawei products could hurt the Chinese tech giant in the short run, but the real impact "depends on how fast our repairmen are able to fix the plane."

Source: MarketWatch