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2025-08-01 09:18:16
Tariffs cost Apple $800 million, Cook says it has acquired about seven companies this year. On July 31st, local time, Apple released its financial results for the quarter ended June 28th, with revenue far exceeding Wall Street expectations and sending its stock price up nearly 3% after hours. However, Apple faces the uncertain impact of tariffs. Apple CEO Tim Cook told analysts on a conference call that tariffs have already cost the company $800 million in the quarter and could add $1.1 billion in costs this quarter. Apple's revenue for the quarter was $94.04 billion, a year-on-year increase of nearly 10%. iPhone sales increased 13.5% to $44.58 billion. Apple's Greater China sales reached $15.37 billion, a year-on-year increase of 10%, reversing previous sales declines. Apple CFO Kevan Parekh forecast revenue of $98.04 billion for the next quarter. Although many Apple products have currently been exempted from tariffs, they may still face tariffs, impacting sales, including in the United States. Although Apple has never announced major acquisitions or plans during its earnings calls, Cook said that Apple has acquired about seven companies so far this year, but not all of them are focused on AI. He also said that Apple is always looking to acquire companies of any size to help it develop AI products.
