摩根士丹利：不确定性加剧-关税影响情景分析

Funding is never an issue for ODM/EMS to add assembly capacity in a new country, but supply chain support, operational skills, and logistics infrastructure will take time to build. Server assembly capacity is diversified and what's in Mexico and the US could meet US market demand. However, the production capacity for Apple hardware devices and NBs remains >70% located in China currently. That said, regional production is needed but it will raise overall production costs. Our analysis shows that the FOB pric ...