Apple Defies Expectations: Sales Surge Amid Tariff Concerns
Apple reported higher than expected sales and profits, driven by early iPhone purchases to avoid tariffs. Despite facing potential tariff impacts, Apple's quarterly revenue was up nearly 10% from the previous year. The company is shifting production to countries like India and Vietnam to mitigate cost challenges.
Apple Inc. has surprised analysts with its latest financial results. On Thursday, the tech giant announced sales and profits exceeding expectations, in part due to early iPhone purchases ahead of impending U.S. tariffs under President Donald Trump's trade policies.
The company's quarterly earnings report for its third fiscal quarter ended June 28 showed a revenue increase of nearly 10% year-over-year, reaching $94.04 billion compared to analyst predictions of $89.54 billion. Apple's CEO, Tim Cook, confirmed that tariffs had burdened the company with costs, projecting an additional $1.1 billion this quarter.
Apple is strategically moving production to countries like India and Vietnam to alleviate tariff pressures. Despite uncertainties and challenges like competition and AI integration, Apple remains focused on making advanced technology user-friendly, contributing to continued strength in its iPhone sales.
(With inputs from agencies.)
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