Apple CEO Tim Cook said Thursday that he expects the tariffs imposed by President Donald Trump to add at least $900 million to the company’s costs during the current quarter, which ends in June.
Speaking with investors after the company announced its quarterly earnings results, Cook also said Apple will assemble most of the products it sells in the United States outside of China this quarter to avoid the tariffs fueling an ongoing trade war between the two countries.
When companies talk about quarterly earnings, executives often deploy language designed to puff up, excuse or obfuscate their companies’ recent performance. The goal is to excite investors over implied future success. And ultimately to give the company more money. Always. More. Money. The Apple quarterly earnings call takes place Thursday afternoon.
But when you’re the iPhone giant — with a mind-blowing market cap and a seemingly never-ending supply of hit products, including ongoing growth in services — you typically don’t need to craft hopeful-yet-non-material statements or deflect questions designed to get at the true bottom line.
So CEO Tim Cook and new CFO Kevan Parekh will report on all the numbers (former CFO Luca Maestri stepped down January 1, 2025). Because many tariff impacts are yet to come, analysts predict a 4% revenue increase year-over-year, plus a jump in earnings per share. Note that Apple starts its fiscal year with Q1 in the previous year’s holiday season, so calendar quarters trail its fiscal quarters.
In another significant leadership reshuffle at Apple, a little-known robotics team will soon move from AI chief John Giannandrea’s oversight to John Ternus, Apple’s senior VP of Hardware Engineering, according to a new report Thursday.
This shift follows last month’s decision to remove Siri from Giannandrea’s responsibilities after concerns about execution on product development.
April 24, 2015: The original Apple Watch launch means consumers, who endured a seven-month wait after the device’s unveiling at a keynote the previous September, can finally strap an Apple wearable onto their wrists.
Apple CEO Tim Cook describes the smartwatch as the “next chapter in Apple history.” Behind the scenes, however, the first Apple Watch launch is a moment long in the making.
In a shake-up aimed at revitalizing Apple’s aging Siri voice assistant, the iPhone giant brought in Mike Rockwell to lead a comprehensive overhaul now in progress, according to a new report. First, the former head of Vision Pro software continues revitalizing the Siri leadership team in the Vision Pro team’s image.
Employees at Apple Stores across the country reported throngs of iPhone buyers over the weekend, according to a new report. Larger-than-average crowds look like a response to President Donald Trump’s tariffs on goods imported from China and other countries — and the specter of rising iPhone prices. In a happy surprise, the tariffs might actually drive iPhone sales before they potentially jack up prices.
Most iPhones come from China, which is up against a 54% tariff on exports to the United States. Most experts agree that rising costs will be passed on to consumers.
As Apple TV+’s subscriber base continues to grow and the streamer enjoys lots of attention on Friday’s Severance season 2 finale, a new report Thursday suggests the streaming service remains a financial loser for the iPhone giant — to the tune of $1 billion in losses annually. And yet it should come as no surprise Apple TV+ bleeds money.
A fat billion a year in the red sounds bad, but it’s pretty much in line with the plan for losses of up to $20 billion over a decade for the still-nascent streaming service.
In a literally royal musical celebration, Apple said King Charles III hosts a special radio show and playlist on Apple Music 1 titled “The King’s Music Room.” It commemorates Commonwealth Day, March 10. See King Charles’ playlist and watch his introductory video, below. This is the first time a reigning monarch has guest hosted on Apple Music, by the way.
“Throughout my life, music has meant a great deal to me. I know that is also the case for so many others,” King Charles said. “It has that remarkable ability to bring happy memories flooding back from the deepest recesses of our memory, to comfort us in times of sadness, and to take us to distant places.”
“But perhaps, above all, it can lift our spirits to such a degree, and all the more so when it brings us together in celebration,” he added. “In other words, it brings us joy.”
Update: Check out the King’s list of songs, added below.
During Tuesday’s Apple shareholder meeting, CEO Tim Cook said the company won’t make changes to its diversity and inclusion programs. President Donald Trump wasn’t happy when he heard about it.
Cook said Apple’s strength is based on an employee pool with “diverse backgrounds and perspectives.” To nobody’s surprise, Trump doesn’t sound pleased with Cook’s comments.
“Apple should get rid of DEI rules, not just make adjustments to them,” the president wrote Wednesday morning on Truth Social. “DEI was a hoax that has been very bad for our country. DEI is gone!!!”
Apple CEO Tim Cook revealed Thursday that his company plans to launch a new product on February 19. He didn’t say what’s on the agenda, other than using a social media post to tease “the newest member of the family.”
There are actually several Apple products that rumors indicate could launch then, including AirTag 2, a new HomePod, the iPhone SE 4, and the MacBook Air with an M4 processor. If you’re curious when does the new MacBook Pro come out, reports suggest Apple may introduce it alongside other anticipated products.
In yet another promo for Apple TV+’s intriguing workplace thriller Severance, Apple CEO Tim Cook gets in on the action. Severance director and executive producer Ben Stiller dropped a video Friday morning on X.com starring the mild-mannered tech honcho. Cook reports for orientation as an innie on the severed floor of Lumon Industries.
The video is short, but Cook isn’t bad — especially in the elevator, where he shows his severed transformation in consciousness (with the help of some special effects). Then, near the end of the video, he made me laugh out loud.
Apple dedicated its homepage Monday to the memory of former President Jimmy Carter, who died Sunday at 100 years old. Carter lived longer than any other U.S. president and seemed to do more than most former heads of state after his term in office.
“Today, we honor President Carter’s lifetime of service and his commitment to leaving the world better than he found it. May he rest in peace,” Apple CEO Tim Cook wrote in a post on X. Both the X post and the Apple website showed the same image of Carter in work clothes with a tool belt on a construction site. The Plains, Georgia, native worked for many years building homes for the homeless through nonprofit group Habitat for Humanity.
December 27, 2010: Almost four months after the second-gen Apple TV’s debut, Cupertino says it has sold 1 million of the streaming video devices.
The news shows that Apple’s set-top box is gaining momentum. However, Apple’s PR move — which included a preemptive press release issued on December 21 that said Apple “expects sales of its new Apple TV to top one million units later this week” — is also a low-blow shot at competitor Roku, which recently said it planned to hit the 1 million unit mark by the end of 2010.
December 22, 2013: After months of false starts, Apple finally secures a deal with China Mobile to bring the iPhone to the world’s largest telecom company.
With 760 million potential iPhone customers in the offing, the deal shapes up as Apple’s most important yet for growing its brand in China. In fact, Apple CEO Tim Cook says the country soon will become the company’s biggest market.
Apple CEO Tim Cook welcomed King Charles III of Great Britain to Apple’s U.K. headquarters Thursday in the iconic Battersea Power Station, Apple said. And it showed off a raft of photographs from the occasion, below.
“We were honored to welcome His Majesty King Charles to Apple Battersea — our home in the U.K. — and we’re proud to support The King’s Trust in its vital work educating and empowering young people,” said Cook. “We look forward to our continued growth here, building on more than 40 years of history in the United Kingdom.”
December 10, 2012: Apple fixes an Apple Maps error that caused several motorists in Victoria, Australia, to become stranded in the remote Murray-Sunset National Park.
The early Apple Maps glitch showed the town of Mildura nearly 45 miles from its actual location. In the aftermath, Victoria police describe Apple’s navigation app as “potentially life-threatening.” That’s pretty much the opposite of “it just works.”
December 5, 2002: Cupertino says it served its millionth unique customer in the Apple Store online, marking a significant milestone for the company. It is a benchmark worth celebrating for Apple, which launched its online store just five years earlier.
“Reaching our 1 millionth customer is a major milestone, and is proof positive that our online shopping experience is second to none,” Tim Cook, Apple’s executive vice president of worldwide sales and operations at the time, says in a statement. “The Apple Store is a popular way for a growing number of consumers and businesses to buy Apple products, and with extensive build-to-order capabilities, easy 1-Click shopping and free shipping on orders, it’s never been easier to buy a Mac online.”
Apple CEO Tim Cook revealed details about the company’s approach to artificial intelligence and defended its Vision Pro headset in an extensive interview Wednesday. In a now-familiar refrain, he discussed the company’s strategic entry into generative AI while addressing criticisms about Apple’s seemingly delayed response to the AI boom.
“We never talked about charging for it,” Cook said of Apple Intelligence. “We view it sort of like multitouch, which enabled the smartphone revolution and the modern tablet.”
November 11, 2015: Apple’s first iPad Pro goes on sale after months of speculation about the giant-size tablet. With its much larger screen, professional-oriented targeting and dreaded (optional) stylus, the 12.9-inch iPad Pro represents Apple CEO Tim Cook’s cleanest break yet from Steve Jobs’ vision for iOS devices.
And it turned out all the better for it!
October 29, 2012: Scott Forstall, Apple’s senior vice president of iOS software, is fired from the company after the disastrous Apple Maps launch. After Forstall is ousted, Apple divvies up the roles he previously handled among other high-level execs.
Jony Ive assumes leadership of the Human Interface team. Craig Federighi becomes head of iOS software. Eddy Cue takes control of Maps and Siri. And Bob Mansfield “unretires” to lead a new technology group.
You can encapsulate Apple’s approach to innovation in four words, according to a new profile of CEO Tim Cook: “Not first, but best.” It’s not a new sentiment, but Cook doubles down on it in a long magazine article that came out over the weekend, complete with interesting tidbits about his life and his journey with Apple, past and present.
And in a colorful side note: The man apparently loves Diet Mountain Dew. And yet Apple Park doesn’t stock it, so he doesn’t get to drink it as much as he used to. (Theory: Cook banned it himself in an act of self-discipline.)
October 14, 2005: Tim Cook takes the reins as Apple’s chief operating officer, continuing an upward climb through the company’s ranks that will make him CEO less than six years later.
“Tim and I have worked together for over seven years now, and I am looking forward to working even more closely with him to help Apple reach some exciting goals during the coming years,” Steve Jobs says in a statement.
October 5, 2011: Apple co-founder Steve Jobs dies at the age of 56 in his home in Palo Alto, California.
Jobs’ official cause of death is respiratory arrest arising from complications related to a rare type of pancreatic cancer. He was diagnosed with cancer eight years earlier, and officially stepped down from his role as Apple CEO in August 2011, just weeks before his death.
On Monday’s Tonight Show with Jimmy Fallon, the host hits the Apple Store on 5th Avenue in New York City to pick up his new iPhone 16 — and ends up taking a very long walk in Central Park with Apple CEO Tim Cook. And is a walk-and-talk filmed on iPhone 16 of Tim Cook and Jimmy Fallon in Central Park funny? Well, here and there it is.
Along their mildy amusing way, the two chatted about the new handsets, upcoming Apple Intelligence features and favorite hot dog condiments.
September 19, 2014: The iPhone undergoes its biggest upgrade — both figuratively and literally — since the original, with the launch of the iPhone 6 and iPhone 6 Plus handsets. The iPhone 6 design brings a new 4.7-inch form factor, while the iPhone 6 Plus expands to a massive 5.5 inches.
The previous-generation iPhone 5 measured only slightly taller than its 3.5-inch predecessors. But with the iPhone 6, Apple abandons the small smartphone form factor to take on big-screen Android “phablets.”