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Apple expects tariffs to impact costs further in the current quarter amid the evolving trade policy landscape.
CEO Tim Cook said on the company’s earnings call Thursday that for the June quarter, the company incurred about $800 million of tariff-related costs. That’s below the $900 million the company said it expected for the third quarter on the last earnings call.
Cook also said that assuming the current global tariff rates policies don’t change for the rest of the September quarter—and no new tariffs are added—Apple estimates the impact to add about $1.1 billion to costs.
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