Apple Expects $1.1 Billion Hit From Tariffs This Quarter, CEO Tim Cook Says
1. Apple expects $1.1 billion in tariff costs this quarter. 2. iPhone sales reached $44.58 billion, up 13% year-over-year. 3. A majority of U.S. iPhones now sourced from India. 4. Apple absorbed $800 million in tariffs last quarter. 5. Potential new tariffs under Section 232 may impact Apple.