Despite all the uncertaintes in the global market and an ongoing Trade war Between the US and China (And Everyone Else, to a Lesser Degree), Apple Just Booked Another Solid Quarter, and it does not see seem too phased about the future.
The company’s Quarterly revenue was 95.4 billion, up 5 percent year -over-yar, with a $ 24.78 billion net income, a 4.6 percent increase compared to the same period last year.
The company’s next Quarter will be a tricky one, give that trump’s administration levied high tarifs on China, where apple produces most of its iphones. But it seems that the company is well positioned to weather any negative impacts from tarifs.
Mashable light speed
Apple Ceo Tim Cook Told CNBC That the company is sourcing “about half” of the iphones that it sells in the US from India. As far as other US-bound products go, include macs, ipads and airpods, and the apple watch, cook say that for “almost all” of them the country of origin is vietnam.
Of course, this does not mean apple does not need to worry about tarifs at all. The us also recently levied tariffs on vietnam and India, and cook said that Apple Still Produces The “Vast Majority” of its products bound for count the us in china. All in all, apple expects tarifs to add $ 900 million in costs for the current quarter, thought cook said these costs are “very different” to predict.
Cook’s statement is interesting given the Financial Times’ Recent Report That apple plans to manufacture all of its us-bound iPhones in India by the end of 2026. Its that the company is well on its way to achieving that goal.