BUZZ-Apple's profit to see 'limited impact' from US tariffs on China, BofA says

Shares of Apple AAPL.O fall 2.9% to $229.10

BofA Securities says it sees "limited impact" on Apple's earnings from 10% U.S. tariffs on imports from China

Brokerage says 80% of the AAPL devices sold in the U.S. can be sourced from outside of China

"In a scenario where Apple does not raise prices in the U.S., we see a negligible $0.05 negative impact to earnings" - brokerage

Given the small impact, AAPL may choose not to raise prices now - brokerage

AAPL could have its manufacturing partners ramp up production in India and ship to the U.S. - brokerage

Thirty-two of 48 brokerages rate the stock "buy" or higher, 12 "hold" and 4 "sell" or lower; their median PT is $254, according to data compiled by LSEG

AAPL shares rose ~26% in the past twelve months