US EditionTrump’s tariffs could cost Apple $900 million this quarter, CEO Tim Cook says
- Apple's CEO Tim Cook said tariffs imposed by President Trump could increase the company's costs by $900 million this quarter, despite efforts to mitigate impact.
- Following the implementation of tariffs on Chinese-made goods in April, Apple’s stock tumbled 23%, resulting in a brief loss of $773 billion in market value for shareholders.
- Apple has shifted most iPhone production for U.S. Sales to India and iPads to Vietnam to avoid tariffs, building its Indian supply chain over seven years as part of a $500 billion U.S. Investment plan.
- Despite a 2.3% revenue decline in Greater China, strong demand boosted iPhone sales 1.9% to $46.84 billion in Q1, surpassing Wall Street expectations with overall revenue rising 5.1% to $95.36 billion.
- Cook remains confident in Apple's resilience amid trade pressures, emphasizing the company's ability to manage margins and signaling ongoing efforts to maintain favorable relations with the administration.
372 Articles
372 Articles
Cost of iPhone ‘made in the USA’ revealed as Apple boss issues warning
APPLE CEO Tim Cook said the company expects US tariffs to slap an extra $900 million onto its costs this quarter. Cook revealed the tech giant raked in $95.4 billion in revenue last quarter but warned that tariffs could soon impact its bottom line. GettyApple generated $95.4 billion in revenue over the last three months[/caption] GettyThe tech giant also reported earnings per share of $1.65 – up more than 7 percent[/caption] AFPTariffs may add $…
iPhones & Co.: Loss of China – Apple's delicate departure from the cheap workbench
The US customs policy forces Apple to make costly production shifts. Two countries in particular benefit from this. In the long term, Apple no longer wants to produce the entire US demand for iPhones in China. However, there is also a threat of new pressure for the company.
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