By Michael Liedtke and Barbara Ortatay
Apple’s revenues for the second tax quarter have exceeded Wall Street’s expectations, but investors are waiting to hear what CEO Tim Cook has to say about the impact of Prices and the economic uncertainty of President Donald Trump on his activities.
The company based in Cupertino, California, won $ 24.78 billion, or $ 1.65 per share, in the first three months of the year, up 4.8% against 23.64 billion dollars, or $ 1.53 per share, during the same period a year earlier.
Income increased by 5.1% to 95.36 billion dollars against $ 90.75 billion.
Analysts, on average, expected a profit of $ 1.62 per share on a turnover of $ 94.19 billion, according to a FostSet survey.
The figures for the January-March period provide an instantaneous how Apple was disputed before President Trump’s unveiling of radical prices in April which rocked the financial markets in the middle of fear that a trade war revives inflation and drives the American economy into recession.
Apple’s dependence on Chinese factories to make its iPhones and other devices in the technological trend in the Trump’s trade war reticle. The exhibition dropped the price of Apple’s action 23% shortly after the president announced the severity of the reciprocal prices, temporarily efforcing $ 773 billion in shareholders in the process.
Most of these losses have since been recovered after Trump temporarily exempt iphones and other electronics from reciprocal prices, but Apple’s stock remains almost 5% from the April shooting of prices.
In addition to the trade war, Apple was injured by its inability to live up to its own media threw surrounding artificial intelligence features on the iPhone 16 range which was released last fall.
The technology was not ready when the iPhone 16 was put up for sale. Certain features of the AI have been deployed in certain parts of the world in the context of software updates, but Apple has still not been able to keep its original promise to make Siri smarter and more versatile. The missteps have prompted Apple to draw advertising campaigns to promote IA breakthroughs on the iPhone, although the company always intends to publish more features fueled by technology at a given time.
Apple was on its late entry into AI enthusiasm to relaunch the demand for the iPhone after last year sales fell by 2% compared to the 2023 levels. Apple said on Wednesday that its phones sales increased by 1.9% to 46.84 billion dollars for the first three months of the year. Wall Street expected iPhone sales of $ 45.62 billion dollars.
When Trump initially indicated that his 145% tariffs on Chinese manufacturing goods would apply to the iPhone, American consumers rushed into stores to buy new devices rather than risks of risks later after the rights have started to increase costs. But the Panic purchase burst will not appear before Apple will have declared its results for the April-June quarter this summer.
Trump’s trade war has intensified the pressure on Cook to work on the same diplomatic passage which allowed the iPhone to avoid being stung by the tariffs of China that the president imposed during his first administration.
Cook noted that his intention remained in good land with Trump by organizing private meetings with him and by personally giving $ 1 million to the president’s second inauguration ceremony before sitting on the platform when Trump was sworn in January 20. Apple then announced its intention to invest $ 500 billion in the United States while hiring 20,000 workers over the next four years.
Trump’s trade war also encourages a push to Apple to move all the production of iphones it sells in the United States of China in India, where the company has strengthened its supply chain for seven years, according to a recent history of the Financial Times. But the complicated logistics of making such a huge decision could probably only be finished next year, as soon as possible, leave the apple vulnerable to the whims of Trump’s trade war.
Apple shares dropped $ 5.81, or 2.7%, $ 207.51 in exchange after working hours.
Originally published:
California Daily Newspapers
