Despite paying $900M in tariffs, Apple's Tim Cook isn't announcing price increases

Core Insights - Apple reported a first quarter revenue of $95.4 billion, with earnings per share at a record $1.65 despite incurring $900 million in increased tariffs [1][2] - CEO Tim Cook indicated that ongoing tariff-induced price increases are unlikely for the next quarter, as Apple is shifting production to India and Vietnam to mitigate tariff impacts [2][5] - The most significant tariff impact was on AppleCare and accessory businesses, with tariff rates hitting at least 145% for these products [3][5] Group 1 - Apple incurred $900 million in additional tariff costs last quarter, which analysts considered surprisingly low given the company's size [1] - The company is now importing a larger portion of its iPhones from India and Macs from Vietnam to reduce tariff exposure [2][5] - Apple products, including iPhones and Macs, are not currently subject to global reciprocal tariffs during an ongoing investigation by the Commerce Department [5] Group 2 - Tim Cook stated that Apple is actively engaged in tariff discussions and is working to keep costs in check without announcing any price increases at this time [6] - The tariff impact on AppleCare and accessories is significant, with rates exceeding 145% for these categories [3][5] - There is no indication that Apple will raise prices to cover tariff costs, as the company is managing its supply chain strategically [5][6]