This article discusses the impact of President Donald Trump's trade policies on technology companies during the earnings season. Advertising-reliant businesses are managing reasonably well, but companies like Apple, Block, and Airbnb report difficulties due to an uncertain economic climate. Apple's CEO Tim Cook highlights an anticipated $900 million increase in costs due to tariffs and mentions shifting product sourcing to India and Vietnam. General unease regarding travel and spending across sectors indicates broader economic implications tied to tariffs and government policies.
In the U.S., we've seen relatively softer results, which we believe has been largely driven by broader economic uncertainties.
We do expect the majority of iPhones sold in the U.S. will have India as their country of origin.
We anticipate $900 million in added costs from tariffs this quarter, making it difficult to predict beyond that timeframe.
Due to uncertain tariff policies, businesses dependent on consumer spending are beginning to feel the effects more than those reliant on advertising.
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