Former Apple CEO John Sculley told CNBC's "Fast Money" that Apple is a likely target for President Donald Trump, but the company will do just fine.
The president is shifting from a focus on globalization to a focus on the U.S., Silicon Valley is ground zero and Trump is likely to focus on Apple, said Sculley, now the chairman of RxAdvance. Apple is well positioned to pivot its supply chain and bring back manufacturing to the U.S., he said.
"It makes a huge difference if Apple can show it can be a leader in this pivot to a different way of approaching the economy," he said.
Sculley is not in the least bit worried about the impact to Apple's business. Cook's supply chain experience coupled with the potential for cash repatriation mean Apple is well positioned, he said "I don't think it's something investors should be concerned about." If the company has to raise the prices of its products, this will not scare off consumers, he said.
"I think people love the iPhone," said Sculley. "I am not sure it's price sensitive."
It's unrealistic for Apple to move the entire supply chain to the U.S., but the company could start with final assembly and testing in the U.S., he said. Over time more of the supply chain will move here, he said.
"It's going to be heavy lifting for Apple but they're capable of doing it," he said.