Apple faces $1.1 billion tariff hit this quarter; Tim Cook bets on AI to offset impact

August 3, 2025

, By The Economic Times

apple-faces-1-1-billion-tariff-hit-this-quarter-tim-cook-bets-on-ai-to-offset-impact.jpg

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Apple CEO Tim Cook said the company will take a $1.1 billion hit this quarter due to Trump-era tariffs, even as App Store revenue surged in double digits last quarter despite regulatory pressure from the European Union and other global authorities.

Following the earnings call, Cook addressed employees at an internal gathering, outlining Apple’s expanding artificial intelligence (AI) strategy, according to a Bloomberg report. “We’ve rarely been first. But Apple invented the modern versions of existing product categories. This is how I feel about…

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Apple faces $1.1 billion tariff hit this quarter; Tim Cook bets on AI to offset impact

August 3, 2025

, Published By The Economic Times

apple-faces-1-1-billion-tariff-hit-this-quarter-tim-cook-bets-on-ai-to-offset-impact.jpg

Apple CEO Tim Cook said the company will take a $1.1 billion hit this quarter due to Trump-era tariffs, even as App Store revenue surged in double digits last quarter despite regulatory pressure from the European Union and other global authorities.

Following the earnings call, Cook addressed employees at an internal gathering, outlining Apple’s expanding artificial intelligence (AI) strategy, according to a Bloomberg report. “We’ve rarely been first. But Apple invented the modern versions of existing product categories. This is how I feel about…

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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Previous News

Here’s everything new Apple TV+ has coming in August

Next News

5 Shady Crypto Projects That Made It to the Spotlight

The Economic Times

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