Apple faced a $900 million increase in costs due to tariffs but maintained strong first quarter performance with $95.4 billion in revenue. Despite tariff pressures, CEO Tim Cook indicated no immediate price increases for consumers. The company has adapted by shifting production from China to India and Vietnam, mitigating some impacts. While AppleCare and accessories suffered the most with a 145% tariff rate, Cook noted that many core products are not currently affected by global tariff investigations, emphasizing Apple's strategy to manage these challenges effectively.
The biggest hit in tariff costs for Apple was with the AppleCare and the accessories businesses, with a tariff rate hit of 'at least 145%.'
Apple is now importing a larger portion of its iPhones from India, rather than China, keeping the tariff hit reduced, and a bigger portion of Macs from Vietnam.
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