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Apple’s stock falls as Tim Cook admits its ‘difficult to predict’ tariff impact

  • Apple's stock declined in late trading as the company provided limited clarity on the impact of President Trump's tariffs.
  • Apple reported second-quarter earnings of $1.65 per share, with revenue increasing 5% to $95.4 billion.
  • The company's net profit rose to $24.78 billion, driven by strong sales in the iPhone segment.
  • However, growth in the Services business slowed, disappointing investors.
  • Mac and iPad sales showed positive growth, aided by the launch of new products.
  • Wearables division revenue declined due to tough comparisons with the previous year's boost.
  • In China, Apple struggled as sales in the region dropped approximately 1%.
  • Apple aims for low to mid-single-digit revenue growth in the current quarter, factoring in the impact of tariffs.
  • The company is sourcing iPhones from India and other products from Vietnam to mitigate tariff effects.
  • Apple's stock fell over 4% after Cook admitted difficulty in predicting tariff impacts beyond the current quarter.

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