Apple CEO Tim Cook reportedly told Trump that he predicts a V-shaped economic recovery from the coronavirus pandemic
Jim Lo Scalzo and the Associated Press (Pool)
Apple CEO Tim Cook told President Trump that he believed the economy would have a V-shaped recovery from the coronavirus pandemic.
A V-shaped recovery is the idea that the economy will make a sharp rebound after bottoming out.
Cook and Trump have spoken on several occasions over the past year.
Apple CEO Tim Cook told President Donald Trump that he expected the economy to make a V-shaped recovery when it bounces back from the COVID-19 pandemic, according to CNBC.
The Apple chief executive spoke with the president on Friday about the state of the economy, according to the report.
A V-shaped curve is a more positive outlook on economy's recovery that means it would take a sharp upturn after bottoming out. St. Louis Federal Reserve President James Bullard also recently said he saw "no reason" that the economy wouldn't be able to recover in a V shape, according to Bloomberg.
That assessment came after experts cast doubt on a V-shaped recovery as the US struggled to contain the virus and jobless claims reached historic highs.
Apple did not immediately respond to Business Insider's request for comment and more details about the conversation.
Cook has been in contact with Trump on numerous occasions over the past year. In November, the president visited Apple's factory in Austin, Texas, where the tech giant assembles its Mac Pro computer.
Trump has also said that he takes phone calls from Cook because he's the only CEO that contacts him personally.
"He calls me and the others don't," Trump said in August, according to Fox Business. "Others go out and hire very expensive consultants, and Tim Cook calls Donald Trump directly — pretty good."
Apple has been particularly affected by the coronavirus pandemic, which prompted the company to temporarily close most of its stores around the world and revise its revenue guidance for the second fiscal quarter of 2020.
The company has also devoted resources toward relief efforts and projects directed at curbing the outbreak, such as a new contact-tracing system it's developing in partnership with Google, which will help alert people when they may have been in contact with a contagious person.
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