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Apple Estimates Trump Tariffs Will Add $900 Million to Costs in June Quarter, Services Revenue Climbs to New Record
Apple's services revenue continued to rise in the first three months of 2025, as investors awaited word on how Trump's tariffs might hurt its business.
Apple ’s services revenue continued to climb in the first three months of 2025 to hit a new record, although at a slower pace than past quarters — and it came in just a hair below analyst expectations. On the call with investors, CEO Tim Cook said President Trump’s tariffs if conditions remain as they are will add an estimated $900 million in costs for Apple for the June 2025 quarter. Cook previously had successfully lobbied the White House for an exemption from the China tariffs — which are currently set at a whopping 145% — on smartphones and other electronics, per the New York Times.
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