Apple Inc. Estimates Tariffs Will Increase Costs by $900 Million

【Apple Inc. Estimates Tariffs Will Increase Costs by $900 Million】Golden Finance reported that on Thursday, Apple (AAPL.O) estimated that if global tariffs remain unchanged, costs for the fiscal quarter ending in June will increase by approximately $900 million. Apple (AAPL.O) CEO Tim Cook stated during the earnings call that due to the company's shift in supply chains and inventory, Apple believes the impact of tariffs on the second fiscal quarter is 'limited.' 'However, for the quarter ending in June (the third fiscal quarter), assuming that the current global tariff rates, policies, and implementations do not change for the remainder of this quarter, and there are no new tariffs, we estimate that the impact will increase our costs by $900 million,' Cook said. Additionally, Cook made it clear that the company is using American suppliers. He expressed support for Apple's plan to spend $500 billion over four years, part of which will be used to expand teams and facilities in states like Arizona, Nevada, Iowa, Oregon, and North Carolina. Cook stated, 'We expect to source more than $19 billion in chips from over a dozen states, including tens of thousands of advanced chips produced in Arizona this year.'