
Apple CEO Tim Cook used part of the company’s fiscal Q3 2025 earnings call to address a growing cost pressure that has little to do with supply chains or raw materials, and everything to do with geopolitics: tariffs.
Cook disclosed that Apple (AAPL) absorbed roughly $800 million in tariff-related costs during the June quarter and expects that figure to climb to $1.1 billion in the September quarter, assuming no changes to current global tariff policies.