Apple's Revenue Soars Despite Tariff Turbulence
Apple anticipates strong revenue growth that surpasses expectations, despite added costs from U.S. tariffs. The company reported $94.04 billion in revenue for its fiscal third quarter, driven by robust iPhone sales, production shifts, and a Chinese subsidy program. Despite challenges like AI integration and tariffs, Apple sees positive momentum.
Apple reported a promising revenue forecast for the quarter ending in September, exceeding Wall Street's predictions despite CEO Tim Cook's warning of $1.1 billion in additional costs due to U.S. tariffs. Apple's fiscal third-quarter sales surged, aided by early iPhone purchases spurred by tariff concerns.
The company's revenue reached $94.04 billion, a nearly 10% year-over-year increase, buoyed by a 13.5% rise in iPhone sales. Shifts in production to India and Vietnam have helped mitigate some tariff impacts, while a subsidy program in China contributed to sales growth.
Facing challenges from competitive rivals and AI integration, Apple is significantly investing in AI technology and maintaining strong market momentum with record iPhone upgrades. The company's services and wearable sales reflect mixed results, but Apple's overall financial indicators show a strong position.
(With inputs from agencies.)
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