President Donald Trump doesn’t seem to have given up on the dream of a “Made in USA” iPhone. That’s a major problem for Apple as it looks to avoid being hit by tariffs, while also avoiding the ruinous costs of an American-manufactured smartphone.

Buffett has sung Cook's praise in the past, too. In his 2021 letter to Berkshire shareholders, he wrote, "Tim Cook, Apple's brilliant CEO, quite properly regards users of Apple products as his first love, but all of his other constituencies benefit from Tim's managerial touch as well."

To Apple investors, President Trump is all bark and no bite, at least when it comes to the shade he threw towards Tim Cook earlier today. Apple shares only slightly underperformed the market after the President,