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Apple Stock Falls After iPhone Maker Warns of Heavy Tariff Cost
That is how much tariffs will add to Apple's costs this quarter, assuming existing policies remain in place, said Chief Executive Tim Cook. He forecast the hit could worsen further ahead. Shares in the iPhone maker fell nearly 3% in premarket trading.
Apple shares slump as tariffs take toll on iPhone maker
Apple shares fell more than 4 percent in early trading Friday as investors weighed an outlook for the iPhone maker that’s clouded by tariffs. The company’s fiscal second-quarter results came in ahead of analyst estimates, with sales rising 5 percent to $95.4 billion, and diluted earnings per share jumping 8 percent to $1.65.
Phone sales beat Wall Street’s expectations but Apple’s vagueness around tariff impacts didn’t sit well with investors.
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