Overview

• Apple reported Q2 revenue of $95.4 billion, a 5.1% increase, and net income of $24.8 billion, up 4.8% year-over-year.
• iPhone sales rebounded by 1.9%, while Apple's services segment grew by 11.7%, now accounting for 28% of total revenue.
• To avoid 145% U.S. tariffs on Chinese goods, Apple is shifting most U.S.-bound iPhone production to India and sourcing other devices from Vietnam.
• CEO Tim Cook estimates that U.S. tariffs could cost Apple $900 million this quarter, pending tariff-exemption reviews by the government.
• Regional performance varied, with 8% revenue growth in the U.S., 1% in Europe, and a 2% decline in China.