Apple CEO Tim Cook expects tariffs to add $900M to costs for current quarter: report

(KRON) — Apple CEO Tim Cook reportedly said he expects President Donald Trump’s tariffs to add $900 million to its costs for the current quarter and that it will be “very difficult” to predict beyond June. Cook made the remarks in an earnings call Thursday, as reported by CNBC.

On the same call, Apple finance chief Kevan Parekh reportedly said Apple expects overall revenue growth in low to mid-single digits on an annual basis during the current quarter, which ends next month. Cook’s forecast of tariffs adding $900 million to the current quarter are dependent upon no new tariffs or other major changes occurring.

Cook reportedly told those on the call that it would be difficult to predict beyond June, “because I’m not sure what will happen with tariffs.”

Amid Trump’s escalating tariff standoff with China, Apple has reportedly been scrambling to shift U.S. iPhone production to India. Cook reportedly told CNBC that the company already makes about half of U.S.-bound iPhones in India and most other products for the U.S. in Vietnam.