Apple renews fears about tariffs, China with disappointing quarterly report

Quick Summary:

Overall sales gained 5 per cent to $95.4 billion last quarter, above the $94.6 billion average estimate.

Apple is preparing to launch its AI services in China in the coming months — relying on partners Alibaba Group Holding Ltd.and Baidu Inc.— and a foldable iPhone is due next year.

Apple expects $900 million in higher costs from tariffs in the current period, Chief Executive Officer Tim Cook said during a conference call.

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Category: BusinessFinance

Markets: IndiaChinaVietnam

Topics: National Capital Region Draft:Vatika Business Centre Senior Vice President of Retail IPhone IPhone 16 US IPhone 4s Godrej Properties Trade war Smartphones NCR Apple Inc. Deirdre O'Brien IPhone 16 Mumbai Delhi Apple

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News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-02 @ 09:52:08 (14 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 1144 words

Reading Time: 7 minutes read

Sentences: 58 lines

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Copyright Owner: © Business Standard

News ID: 28315973

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