Apple CEO Tim Cook announced that tariffs could increase Apple's costs by $900 million this quarter. To mitigate this, Apple is shifting the majority of US iPhone production to India, diversifying its supply chain away from China. While Apple reported strong overall revenue growth (5% to $95.4 billion), sales in Greater China slightly decreased. This shift reflects efforts to counter US tariffs, although bringing iPhone production entirely to the US remains impractical due to significantly increased costs.

Prepared by Christopher Adams and reviewed by editorial team.