Apple shares rise after strong quarterly results amid tariff woes, competition
rose 2% in premarket trading on Friday, after the iPhone maker's quarterly results topped Wall Street expectations, indicating resilience in the face of
global trade tensions
and intensifying artificial intelligence rivalry.
Driven by a sharp rebound in its flagship phone sales,
Apple
posted its fastest revenue growth since 2021 and forecast "mid to high single digit" growth for the current quarter, well above analysts' 3.27% estimate.
"Although there are specific drivers like China subsidies that can be attributed for some of the exceptional strength, the acceleration in revenue growth ... is equally surprising, especially in a quarter when consumers typically hold off purchases ahead of the next iPhone launch in September," J.P.Morgan analysts said.
Apple has been rebalancing its manufacturing footprint, sourcing iPhones from India and other products such as Macs and Apple Watches from Vietnam, while much of its product line still benefits from tariff exemptions.
CEO
Tim Cook
warned that tariffs would raise costs by $1.1 billion in the current quarter after the company said it took an $800 million hit from tariffs in the third quarter.
The company also faces stiff competition from hardware rivals such as Samsung Electronics in the premium smartphone space and software giant Alphabet, which is rapidly embedding AI into Android and ramping up AI spending with growing returns.
Among the 'Magnificent Seven' stocks, Apple has lagged behind this year, with its stock down 17%, as it grapples with staying competitive in the fast-evolving AI space. Apple has delayed the release of its AI-enhanced virtual assistant - Siri, and was slow to launch Apple Intelligence, but Cook said the company is making headway and scaling up its AI spending to catch up with Big Tech rivals.
"Brand loyalty gives Apple time to get the AI transition right, but it needs to start delivering", said Matt Britzman, senior equity analyst, Hargreaves Lansdown.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
3 hours ago
- Time of India
Most iPhones sold in US made in India, says Cook
Apple CEO Tim Cook confirmed on Thursday that 'majority' of iPhones sold in the US in the past quarter were made in India despite US President Donald Trump's regular rants about it. Meanwhile China, erstwhile production giant, is playing second fiddle and is used more to service non-US markets. Cook, speaking to analysts after quarterly results, said that India has been the mainstay when it comes to producing iPhones for the US, while Vietnam is the location for making other products for America such as MacBook, iPad and Watch. 'In terms of the country of origin, it's the same as I referenced last quarter. There hasn't been a change to that, which is, vast majority of iPhones sold in the US, or the majority, I should say, have a country of origin of India,' the Apple CEO said. On China, Cook said, '… the products for other international countries, vast majority of them are coming from China.' While the Trump administration imposed 25% tariffs on India, smartphones, computers, and other electronic devices are exempted from the reciprocal tariffs for now. Trump has been pushing Apple and Cook not to make the iPhones in India for meeting needs of US consumers. 'I had a little problem with Tim Cook… I said to him, my friend, I am treating you very good… but now I hear you are building all over India. I don't want you building in India,' he said during his visit to Doha in May. Cook's clear stance on India manufacturing, is being seen as a signal that Apple stays bullish on India, especially as the country is also consistent in showing strong growth in local sales. Cook said revenues in India are witnessing record growth, led by growth in sales of iPhones. India is among the high-growth markets for Apple, which recorded 10% growth globally in quarterly revenues, closing the quarter at $94 billion. 'We saw an acceleration of growth around the world in a vast majority of markets we track, including greater China and many emerging markets, and we had the June quarter revenue records in more than two dozen countries and regions, including the US, Canada, Latin America, Western Europe, the Middle East, India, and South Asia. These results were driven by double-digit growth across iPhone, Mac, and services.' The Apple CEO also said the company is in the process of expanding its retail presence in India by opening more stores. On sales, India was again amongst the high-growth countries.
India.com
4 hours ago
- India.com
Apple CEO Tim Cook willing to buy a big company but there is a twist which is...
New Delhi: Apple CEO Tim Cook has said that the company will now focus a lot more on artificial intelligence (AI) and termed it a revolution. He even went on to say that artificial intelligence is greater than the internet or smartphones. He was speaking at a rare all-hands meeting at Apple's Cupertino campus following the company's latest earnings report, where he emphasised that Apple must act swiftly to move ahead of other players in this transformative era. Cook laid out a determined roadmap that places AI at the heart of Apple's future. What did Tim Cook emphasise? 'Apple must do this. Apple will do this. This is sort of ours to grab. We will invest to do it,' said Cook as he acknowledged Apple's historical pattern of entering markets later than competitors but ultimately reshaping them with superior products. 'We've rarely been first. There was a PC before the Mac; there was a smartphone before the iPhone; there were many tablets before the iPad; there was an MP3 player before the iPod. This is how I feel about AI,' he said. What did he say about Apple Intelligence? It is noteworthy that Apple has not kept pace with rivals such as OpenAI, Alphabet, and Microsoft in publicly launching AI capabilities, but Cook displayed an intrepid confidence in the company's approach. Apple Intelligence, introduced last year, faced delays that impacted the iPhone 16 rollout, yet Cook downplayed the timeline issues, reaffirming Apple's commitment to delivering best-in-class solutions. 'To not do so would be to be left behind, and we can't do that.' How much quarterly revenue did Apple report? This meeting was reported by Bloomberg, citing sources. It came just days after Apple reported $94.04 billion in quarterly revenue, up 10% year-on-year (YoY), much above the $89.35 billion estimate of Wall Street. iPhone revenue came in much stronger than expected at $44.58 billion (up 13% YoY), setting a June-quarter record and surpassing Wall Street's $40.29 billion estimate. 'AI is one of the most profound technologies of our lifetime. And I think it will affect all devices in a significant way,' Tim Cook told analysts during the earnings call. Apple is establishing a dedicated AI server facility in Houston, indicating the gravity of the situation and how keen the company is to move up the AI market.
Mint
5 hours ago
- Mint
Amazon Great Freedom Sale deals on smartwatches: Up to 70% off on Samsung, Apple and more
Smartwatches have now become powerful lifestyle companions that help you stay active and organised, all from your wrist. If you're someone who wants quick access to calls, messages, music, or notifications without constantly reaching for your phone, a smartwatch is worth considering. For fitness enthusiasts, it doubles up as a health tracker, monitoring heart rate, sleep, stress levels, calories, and workouts in real-time. Some models even offer advanced features like SpO2 tracking, GPS, fall detection, and menstrual cycle monitoring. They're also great for managing your schedule, setting reminders, or even using voice assistants on the go. During the Amazon Great Freedom Festival Sale 2025, smartwatches from top brands like Noise, Fire-Boltt, boAt, Samsung, and Apple are available at massive discounts. {{#product}} {{/product}} Track your health in real-time and stay connected without your phone with the Samsung Galaxy Watch6 Classic LTE. Designed for Android users, it features advanced BP and ECG monitoring, sleep coaching, fall detection, and contactless payments via Samsung Wallet. You can enjoy uninterrupted access to calls, texts, and music through LTE connectivity. Managing workouts or making secure payments, this smartwatch does it all from your wrist. With a stunning 47mm black design, 16GB storage, and Wear OS 4.0, it's a top pick during the Amazon Great Freedom Festival 2025. Get it at 55% off, plus bank offers, no-cost EMI, and free delivery. {{#product}} {{/product}} OnePlus Watch 2 (Black Steel) combines elegant design with powerful features. It runs on Wear OS 4 and is powered by a dual-chip setup (Snapdragon W5 + BES2700), offering smooth performance with 2GB RAM and 32GB storage. Its 1.43" AMOLED display peaks at 1000 nits, while the stainless steel build and sapphire crystal cover ensure durability (MIL-STD-810H certified). Enjoy up to 100 hours battery life in Smart Mode and 12 days in Power Saver. With 100+ sports modes, dual-frequency GPS, and comprehensive health tracking, it's ideal for fitness lovers. Now at 14,749 with 47% off with additional bank offers and a ₹ 1000 coupon. {{#product}} {{/product}} Amazfit Active 2 Square (Leather Black) blends style and performance with a polished stainless steel body and 1.75" AMOLED display boasting 2000 nits brightness. Powered by Zepp OS, it offers built-in GPS, Bluetooth calling, and 160+ workout modes. You get up to 10 days of battery life (5 days with heavy use), 24/7 health monitoring, sleep tracking, and advanced workout insights via Zepp Coach. Sapphire crystal glass ensures durability, while free downloadable maps and turn-by-turn voice navigation add to the smart features. Get it now for ₹ 12,999 (50% off), with additional bank offers, cashback, and no-cost EMI. {{#product}} {{/product}} The boAt Storm Infinity (Active Black) smartwatch is built for both style and performance, offering an impressive 81% discount during the Freedom Sale. Fueled by a massive 550mAh battery, it delivers up to 15 days of battery life and supports ASAP fast charging. Its 1.83' HD display with functional crown ensures easy navigation, while Bluetooth calling keeps you seamlessly connected. This watch covers all your fitness needs with heart rate, SpO2, sleep, and stress tracking, plus multiple sports modes. SOS emergency alerts and a built-in game add convenience and safety, making it a complete smart companion for men and women. {{#product}} {{/product}} Upgrade your style and fitness game with the Noise Twist Go smartwatch. Featuring a round 1.39" display and a premium metal build, this smartwatch combines elegance with smart utility. Enjoy seamless Bluetooth calling, 100+ watch faces, 100+ sports modes, 24/7 heart rate monitoring, SpO2 tracking, and sleep analysis. Its IP68 rating ensures durability, while the NoiseFit app boosts your health journey. It's now available during the Amazon Freedom Sale at 68% off! Additional bank offers and no-cost EMI options available. Comes with a 1-year warranty and free delivery. {{#product}} {{/product}} Stay connected and healthy with the Apple Watch Series 8, a premium fitness tracker that goes beyond the basics. With built-in blood oxygen monitoring, ECG apps, and temperature sensing, it offers deep insights into your wellness. Use Crash Detection, Fall Detection, and Emergency SOS for added safety. Its Always-On Retina display ensures visibility, while water resistance makes it ideal for workouts and outdoor use. Thanks to cellular connectivity, you can call, text, or stream without your iPhone. Enjoy up to 40% discount during the Amazon Sale 2025. {{#product}} {{/product}} The Redmi Watch 5 Lite is a sleek and functional smartwatch with a vibrant 1.96" AMOLED display, Always-On mode, and advanced in-built GPS. Enjoy Bluetooth calling with AI noise reduction for clear conversations, and track your fitness with 5ATM water resistance and an impressive 18-day battery life. Powered by HyperOS, it delivers smart notifications and essential health insights. Available now for just ₹ 3,199 during the Amazon Great Freedom Festival Sale 2025, with up to 54% off plus additional bank offers and no-cost EMI options. {{#product}} {{/product}} The Garmin Instinct 2 is built for adventure. With a rugged, ultratough design that's water-rated up to 100 meters, it's ideal for outdoor explorers and fitness enthusiasts. It features built-in sports apps for running, cycling, swimming, and strength training, and supports multiple satellite systems (GPS, GLONASS, Galileo) for accurate tracking. You also get VO2 Max, barometric altimeter, 3-axis compass, and 24/7 health monitoring including heart rate, sleep, Pulse Ox, and respiration tracking. Get smart notifications, Bluetooth connectivity, and up to 28 days battery life. {{#product}} {{/product}} Huawei Band 9 Smartwatch (Black) is your lightweight fitness companion, weighing just 14g and designed with a skin-friendly, sweat-wicking strap for all-day comfort. It features HUAWEI TruSleep™ 4.0 for advanced sleep tracking and TruSeen™ 5.5 for real-time heart rate and SpO2 monitoring. Enjoy up to 14 days of battery life, with fast charging that gives 2 days' use in just 5 minutes. With 100+ workout modes—including pro-level swim tracking—this smartwatch is compatible with both iOS and Android. Intelligent brightness adjustment ensures visibility in any lighting. {{#product}} {{/product}} Upgrade your wristwear with the Fire-Boltt Phoenix Ultra Smartwatch, now at just ₹ 1,399 (89% off) during the Amazon Great Freedom Sale. This feature-rich watch boasts a 1.39-inch TFT full-touch display with 280 NITS brightness, ideal for bright outdoor visibility. Stay on top of your fitness goals with 120+ sports modes, SpO2 tracking, heart rate monitoring, and sleep analysis. The sleek metal body and Milanese strap offer both durability and elegance. Enjoy Bluetooth calling, voice assistant, and smart notifications on the go. Perfect for both men and women, it combines premium style with smart functionality at an unbeatable price. Disclaimer: Mint has an affiliate marketing partnership, which means we may get some commission on purchases you make through the retailer sites links provided. These partnerships do not influence our editorial content, which is free from any bias or marketing pitch. We strive to provide accurate and unbiased information to help you make informed decisions. We recommend verifying details with the retailer before making a purchase.
