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Apple CEO Tim Cook offered the company\u2019s first comments on the impact of President Trump\u2019s tariffs during Thursday\u2019s second-quarter earnings call with investors. While the iPhone maker saw only \u201climited impact\u201d from tariffs in the March quarter, Cook said Apple couldn\u2019t 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.<\/p>\n
The news was a relief to investors, with one even calling it a \u201cpretty good outcome.\u201d 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.<\/p>\n
Cook told investors Apple\u2019s estimate was meant to provide some color and would only hold if the current global tariff rates, policies, and applications didn\u2019t change for the balance of the quarter and if no new tariffs were added.<\/p>\n
He also warned that this estimate shouldn\u2019t be used to project the impact of tariffs in future quarters, as there are \u201cunique factors\u201d that benefit the June quarter.<\/p>\n
In an interview with CNBC<\/a>, Cook had downplayed the impact of tariffs, noting that Apple is already sourcing about half its iPhones for the U.S. from India, and most other products for the U.S. market from Vietnam.<\/p>\n When pressed by one investor to offer more details on the June quarter and beyond, Cook said, \u201cI don\u2019t want to predict the future, because I\u2019m not sure what will happen with the tariffs.\u201d<\/p>\n Cook added that he wouldn\u2019t want to predict the mix of production in the future, but noted that he was very engaged with the tariff discussions. (That much was already clear. Shortly after a meeting with President Trump, Apple\u2019s iPhones were spared from the trade policy changes<\/a> that could have sent iPhone pricing soaring.)<\/p>\n Techcrunch event<\/p>\n \n\t\t\t\t\t\t\t\t\tBerkeley, CA<\/span>
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\n\t\t\t\t\t\t\t\t\t\t\t\t\tJune 5<\/span>\n\t\t\t\t\t\t\t<\/p>\n