Apple could spend $900 million on tariffs over the next quarter

In an earnings call for the quarter ending in March, Apple CEO Tim Cook said the company expects to pay around $900 million for US tariffs for the months of April to June. Apple saw limited impacts from tariffs for the months January through March, which doesn't come as a surprise since most of the government's new import taxes didn't exist before April. The company was also able to optimize its supply chain and inventory before then. Cook admitted that Apple can't give a precise estimate of the impact tariffs will have on the company in the coming months because the Trump administration's rules could still change the future. "For the June quarter, currently, we are not able to precisely estimate the impact of tariffs as we are uncertain of potential future actions prior to the end of the quarter," the CEO explained. The $900 million figure came from the company's estimates, assuming "current global tariff rates, policies and applications do not change for the balance of the quarter a ... Read full article.