More than 90% of Apple’s production is still in China. Why Morgan Stanley says that’s a problem.

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Investors are cooling their heels with a Fed decision one day away. Markets are largely counting on a one-and-done playbook, but note the curveball we got from Down Under where the Aussie central bank delivered a rate-hike shocker.

Shifting gears, our call of the day from Morgan Stanley warns of hurdles to come for tech companies such as Apple AAPL, and rewards for others amid shifting global supply chains.

As…

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