Apple says devices sold in the US will no longer come from China, as the tech giant tries to mitigate the impact of Donald Trump's tariffs.
Spotify said on Thursday it has submitted an app update to Apple with an external link to buy subscriptions, after a U.S. judge ruled that the iPhone maker violated the order that required it to allow greater competition for app downloads.
Apple CEO Tim Cook said Thursday (May 1) that the company needs “more time” to upgrade Siri's artificial intelligence (AI) capabilities, as the AI assistant faces criticisms that it lags behind rivals such as Amazon's Alexa and other voice-enabled AI chatbots.
Start Time: 17:00 January 1, 0000 5:56 PM ET Apple Inc. (NASDAQ:AAPL ) Q2 2025 Earnings Conference Call May 01, 2025, 17:00 PM ET Company Participants Tim Cook - CEO Kevan Parekh - CFO Suhasini Chandramouli - Director, IR Conference Call Participants Erik Woodring - Morgan Stanley Ben Reitzes - Melius Michael Ng - Goldman Sachs Amit Daryanani - Evercore Wamsi Mohan - Bank of America David Vogt - UBS Samik Chatterjee - JPMorgan Krish Sankar - TD Cowen Richard Kramer - Arete Research Aaron Rakers - Wells Fargo Suhasini Chandramouli Good afternoon, and welcome to the Apple Q2 Fiscal Year 2025 Earnings Conference Call. My name is Suhasini Chandramouli, Director of Investor Relations.
For the current quarter which ends in June, Apple is predicting about $900 million in additional costs for those tariffs — assuming nothing changes, CEO Tim Cook said. "I don't want to predict the future because I'm not sure what will happen with tariffs," said Cook, adding that "it's very difficult to predict beyond beyond June.
iPhone sales beat Wall Street's expectations but Apple's vagueness around tariff impacts didn't sit well with investors.
Apple (AAPL) CEO Tim Cook said the Trump administration's tariffs, if they remain at their current levels, will cost Apple about $900 million in the current quarter that runs through June.
Both "Mag 7" stocks are trading lower on quarterly earnings, while Reddit and Twilio are jumping higher following theirs.
While the top- and bottom-line numbers for Apple (AAPL) give a sense of how the business performed in the quarter ended March 2025, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Increased tariffs cost Apple $900 million last quarter, the company said when it announced solid first quarter results.
Recent U.S.-China trade tensions and tariffs have impacted Apple Inc.'s China market share and will increase iPhone production costs, leading to a short-term bearish outlook. Apple's high valuation and low growth estimates, combined with lagging AI advancements, make it the worst risk-reward stock among Mag 7 peers. Apple's ongoing struggles with moving production out of China and slow AI rollout highlight management challenges and potential future risks. Meanwhile, management is focused on increasing dividends and share repurchases.
Apple (AAPL) came out with quarterly earnings of $1.65 per share, beating the Zacks Consensus Estimate of $1.61 per share. This compares to earnings of $1.53 per share a year ago.