Apple projects tariff costs will hit $1.1B next quarter
1. Apple to face $1.1 billion in tariff costs this quarter. 2. Past quarter's costs were lower than estimated, suggesting potential volatility. 3. iPhone sales grew 13%, contributing significantly to revenue. 4. Tariffs arise mainly from trade tensions with China and IEEPA. 5. Apple committed $500 billion to U.S. investments amid tariff pressures.