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The Wall Street Publication > Blog > Markets > Apple edges previous expectations as world girds for tariff influence
Markets

Apple edges previous expectations as world girds for tariff influence

Editorial Board Published May 1, 2025
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Apple edges previous expectations as world girds for tariff influence
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Apple on Thursday reported outcomes that narrowly beat Wall Road expectations as customers stocked up on iPhones amid fears of potential import taxes on its signature gadget from President Donald Trump.

The Cupertino, California-based firm mentioned its gross sales and revenue for the fiscal second quarter ended March 29 have been $95.36 billion and $1.65 per share, respectively, in contrast with analyst estimates of $94.68 billion and $1.63 per share, based on LSEG knowledge. Gross sales of iPhones have been $46.84 billion, in contrast with estimates of $46.17 billion, based on LSEG knowledge.

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Apple CEO Tim Cook dinner speaks throughout Apple’s “It’s Glowtime” occasion in Cupertino, California, September 9, 2024. (Photograph by Nic Coury / AFP) (Photograph by NIC COURY/AFP by way of Getty Photographs) (Nic Coury / AFP by way of Getty Photographs / Getty Photographs)

Apple shares have been down 1.5% in after-hours buying and selling after the outcomes have been launched.

Whereas the outcomes have been higher than analysts had anticipated, buyers are targeted on how tariff issues will play out within the coming quarter. Apple executives will give forecast info on a convention name with buyers beginning at 5 p.m. EDT.

The Trump administration has to this point spared electronics from tariffs however Washington has signaled that some levies might come within the weeks forward. The uncertainty has despatched shares of Apple, which makes 90% of its merchandise in China, down about 15% this yr, wiping off greater than $600 billion from its market worth.

Microsoft’s upbeat forecast took its market capitalization to $3.2 trillion, beating Apple to clinch the highest spot.

Apple will attempt to mitigate tariffs by shifting manufacturing of U.S.-bound iPhones to India, Reuters has reported. Analysts anticipate the corporate to unfold among the tariff prices via its provide chain, whereas retaining value will increase to a minimal to keep away from dropping market share at a time when it faces fierce competitors and has skilled delays in rolling out key artificial-intelligence options equivalent to enhancements to its Siri voice assistant.

Apple CEO Tim Cook dinner informed Reuters on Thursday that iPhone stock ranges in the beginning and finish of the fiscal second quarter have been comparable, which means there was no massive stock buildup over the interval. Cook dinner mentioned handset gross sales have been boosted by the iPhone 16e, the corporate’s $599 mid-market mannequin that comprises its first-ever customized modem chip.

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Apple store logo

The brand new transfer will probably ease the blow for customers whereas giving a lift to electronics giants equivalent to Apple, Samsung and Dell. ( Faris Hadziq/SOPA Photographs/LightRocket by way of Getty Photographs / Getty Photographs)

The iPhone 16 is Apple’s most cheap mannequin however has a sufficiently highly effective processor to run the entire firm’s latest AI options.

“When you look at the active (iPhone) installed base, it did hit a new high, and did so in every geographic region,” Cook dinner informed Reuters.

Apple mentioned gross sales in its Higher China phase fell to $16 billion, higher than analyst expectations of $15.9 billion, based on knowledge from Seen Alpha. In China, Apple has confronted particularly robust competitors from home makers equivalent to Huawei HWT.UL and Xiaomi 1810.HK and has not but rolled out key AI options that have been introduced almost a yr in the past.

Reuters earlier reported that Apple has partnered with Alibaba to offer AI options in China, however Apple has nonetheless not signaled when these options will change into accessible.

Apple mentioned gross sales in its providers enterprise have been $26.65 billion, in contrast with estimates of $26.69 billion, based on LSEG knowledge. Cook dinner informed Reuters that Apple now has greater than 1 billion paid subscriptions on its platform.

Apple logo

CHICAGO, ILLINOIS – NOVEMBER 28: The Apple firm emblem hangs above an Apple retail retailer on November 28, 2022 in Chicago, Illinois. Apple is at present dealing with shortages in iPhone provides resulting from COVID-19 restrictions in China and unrest at one in all App (Scott Olson/Getty Photographs / Getty Photographs)

In Apple’s equipment and wearables phase, which incorporates merchandise equivalent to AirPods, income was $7.52 billion, in contrast with estimates of $7.85 billion, based on LSEG.

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Gross sales of iPads and Macs have been $6.40 billion and $7.95 billion, respectively, in contrast with analyst expectations of $6.07 billion and $7.92 billion. Cook dinner mentioned that entry-level iPads carried out the most effective in the course of the quarter.

Apple additionally mentioned it’s going to enhance its money dividend by 4% to 26 cents per share and that its board has approved an extra $100 billion for its inventory buyback program.

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