Apple CEO Tim Cook says tariffs to add $900M in costs in Q3, but future uncertain

Apple CEO Tim Cook offered the company’s first comments on the impact of President Trump’s tariffs during Thursday’s second-quarter earnings call with investors. While the iPhone maker saw only “limited impact” from tariffs in the March quarter, Cook said Apple couldn’t forecast what that would mean for the coming quarter. However, if things remained the same, the company estimates tariffs will only add $900 million to its costs in Q3. The news was a relief to investors, with one even calling it a “pretty good outcome.” However, investors were still concerned as to what the next quarters could hold, given the rapid changes to U.S. trade policy in recent weeks. Cook told investors Apple’s estimate was meant to provide some color and would only hold if the current global tariff rates, policies, and applications didn’t change for the balance of the quarter and if no new tariffs were added. He also warned that this estimate shouldn’t be used to project the impact of tariffs in future qu ... Read full article.