Apple's tariffs on China imports to hit $1.1 billion
Apple's looking at a $1.1 billion bill from tariffs this quarter—up from $800 million last time—mainly thanks to ongoing US trade policies.
The jump would've been even bigger if Apple hadn't moved more iPhone production out of China and into India.
iPhones now mostly come from India
Most US-bound iPhones now come from India, but there's still a 25% tariff on them (compared to 30% for Chinese imports until August).
Macs, iPads, and Watches mostly come from Vietnam with a 20% tariff.
Basically, no matter where Apple builds its gadgets, those extra costs add up.
Apple still managed to pull off a revenue jump
Even with these tariffs, Apple pulled off a revenue jump this quarter—hitting $94 billion—with iPhone sales up 13%.
Cook credits some of that to people buying early before prices rise but says strong products are what really drive sales.
He also confirmed Apple is all-in on building more chips at home, pledging $500 billion over four years to boost US manufacturing.