Apple CEO Tim Cook Plans to Absorb $900M Tariff Costs

Apple reported $900 million in tariff costs last quarter but has chosen not to increase product prices for now, with CEO Tim Cook stating there is 'nothing to announce at this time' regarding price hikes. The company is mitigating tariff impacts by shifting more iPhone production to India and Mac production to Vietnam, reducing reliance on China for U.S.-bound goods. The highest tariff rates have affected AppleCare and accessory segments, though core products like iPhone, Mac, and iPad are currently exempt from many global reciprocal tariffs. Cook emphasized Apple’s ongoing efforts to optimize its supply chain and manage costs, but did not rule out the possibility of future price increases should trade policies change. He also noted that future tariff costs remain uncertain due to the evolving nature of trade policy.