The key details from Apple's earnings report as the company faces a major change

Core Insights - Apple is facing significant challenges following a federal judge's ruling that the company "outright lied under oath" in its court case with Epic Games, which accused Apple of anticompetitive practices related to the App Store and in-app payments [3][4] - The earnings report revealed mixed results, with Apple beating revenue and EPS estimates but also anticipating a $900 million impact from tariffs in the current quarter, alongside disappointing sales in China [5][6] Legal Challenges - The judge's ruling indicated that Apple was in "willful violation" of a previous court order that allowed developers to inform customers about alternative purchasing options outside the App Store [4] - Apple plans to comply with the court order while also appealing the ruling, which could have significant implications for its App Store revenue model [4] Financial Performance - In the latest earnings report, Apple reported better-than-expected revenue and earnings per share, but the stock fell 3% in premarket trading due to concerns over tariffs and sales performance in China [5] - CEO Tim Cook announced a $500 billion investment aimed at boosting US manufacturing over the next four years, indicating a strategic shift in sourcing [5][6] Market Trends - Cook mentioned that the majority of iPhones sold in the US during the June quarter are expected to originate from India, with most other products coming from Vietnam, reflecting a shift in Apple's supply chain strategy [6]