Tomorrow, all eyes will be on New York City’s Trump Tower as President-Elect Donald Trump sits down with Silicon Valley’s top tech leaders. While the meeting’s agenda has yet to be disclosed, it is safe to assume themes like job creation, immigration, regulation, and encryption will all be likely discussion topics.
It’s been well documented that the vast majority of Silicon Valley leaders opposed Trump during the presidential election, with some helping and fund-raising for Democratic nominee Hillary Clinton during her campaign. The Obama administration has acted largely favorable towards large tech corporations over the years, from its “net-neutrality” policy—which requires internet providers to treat all web traffic equally—to its hands-off tactics to the tech industry’s growing concentration of power.
Joining Trump on his side of the table will be Reince Preibus, his chief of staff, son-in-law Jared Kushner, and key transition team member Peter Thiel, a tech investor who was one of the few Silicon Valley names to support Mr. Trump.
Expected tech executives include:
Apple ( AAPL Quick Quote AAPL - Free Report) Chief Executive Tim Cook Facebook Chief Operating Officer and Lean In author Sheryl Sandberg Microsoft ( MSFT Quick Quote MSFT - Free Report) CEO Satya Nadella Amazon ( AMZN Quick Quote AMZN - Free Report) CEO and The Washington Post owner Jeff Bezos Tesla Motors ( TSLA Quick Quote TSLA - Free Report) CEO Elon Musk Alphabet ( GOOGL Quick Quote GOOGL - Free Report) CEO and Chairman Larry Page and Eric Schmidt Intel ( INTC Quick Quote INTC - Free Report) CEO Brian Krzanich IBM ( IBM Quick Quote IBM - Free Report) CEO Ginni Rometty Oracle ( ORCL Quick Quote ORCL - Free Report) co-CEO Safra Catz Cisco ( CSCO Quick Quote CSCO - Free Report) CEO Chuck Robbins
Surprisingly, Twitter (
TWTR Quick Quote TWTR - Free Report) CEO Jack Dorsey will not be present at the meeting, given how much Mr. Trump prefers the social networking platform over others.
Many of these tech companies, including Facebook, Amazon, Apple, and Microsoft, saw their
shares slide the day after the election on worries that a Trump presidency would negatively affect their manufacturing and product distribution methods here in the U.S. and especially abroad.
One area of common ground, however, could be tax reform. According to the
, the president-elect is “expected to promote corporate tax reform, which, depending on the details, could enable U.S. tech companies to bring home hundreds of billions of dollars they currently hold offshore.” Wall Street Journal
The meeting is set for 2:00pm on Wednesday afternoon, and the world will be watching, waiting to learn all the minute details, hoping for, at least, some agreement on key issues, and realizing that the tech industry and Mr. Trump may need more from each other than either is willing to give.
Stocks that Aren't in the News…Yet
You are invited to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buys" free of charge. Many of these companies are almost unheard of by the general public and just starting to get noticed by Wall Street. They have been pinpointed by the Zacks system that nearly tripled the market from 1988 through 2015, with a stellar average gain of +26% per year.
See these high-potential stocks now >>