Apple's recent quarterly report indicated a slight beat against Wall Street expectations, driven largely by robust iPhone sales, particularly the new iPhone 16e. While sales reached $95.36 billion against a $94.68 billion estimate, stock dipped 1.5% after hours due to concerns over upcoming tariffs proposed by the Trump administration. Apple, which manufactures a significant portion of its products in China, is exploring production shifts to India to mitigate potential tariff impacts. CEO Tim Cook reported a stable inventory strategy, which suggests a balanced supply-demand situation despite broader market challenges.
Apple CEO Tim Cook indicated that inventory levels for iPhones remained stable, suggesting effective demand management during the quarter despite external market pressures.
Despite delivering results better than analyst expectations, Apple's shares fell in after-hours trading as investors turned their focus to potential tariffs and their implications.
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