Apple CEO Tim Cook dinner supplied the corporate’s first feedback on the impression of President Trump’s tariffs throughout Thursday’s second-quarter earnings name with buyers. Whereas the iPhone maker noticed solely “restricted impression” from tariffs within the March quarter, Cook dinner stated Apple couldn’t forecast what that may imply for the approaching quarter. Nevertheless, if issues remained the identical, the corporate estimates tariffs will solely add $900 million to its prices in Q3.

The information was a reduction to buyers, with one even calling it a “fairly good end result.” Nevertheless, buyers have been nonetheless involved as to what the following quarters may maintain, given the fast modifications to U.S. commerce coverage in current weeks.

Cook dinner instructed buyers Apple’s estimate was meant to offer some colour and would solely maintain if the present international tariff charges, insurance policies, and functions didn’t change for the steadiness of the quarter and if no new tariffs have been added.

He additionally warned that this estimate shouldn’t be used to mission the impression of tariffs in future quarters, as there are “distinctive elements” that profit the June quarter.

In an interview with CNBC, Cook dinner had downplayed the impression of tariffs, noting that Apple is already sourcing about half its iPhones for the U.S. from India, and most different merchandise for the U.S. market from Vietnam.

When pressed by one investor to supply extra particulars on the June quarter and past, Cook dinner stated, “I don’t wish to predict the longer term, as a result of I’m undecided what is going to occur with the tariffs.”

Cook dinner added that he wouldn’t wish to predict the combination of manufacturing sooner or later, however famous that he was very engaged with the tariff discussions. (That a lot was already clear. Shortly after a gathering with President Trump, Apple’s iPhones were spared from the trade policy changes that might have despatched iPhone pricing hovering.)

“For our half, we’ll handle the corporate the best way we all the time have, with considerate and deliberate selections, with a concentrate on investing for the long run, and with dedication to innovation and the probabilities it creates,” Cook dinner stated. “As we glance forward, we stay assured, assured that we’ll proceed to construct the world’s finest services and products, assured in our potential to innovate and enrich our customers’ lives, and assured that we will proceed to run our enterprise in a approach that has all the time set Apple aside.”