Apple Stock Drops. Why a $900 Million Tariff Hit Could Be Just the Start.
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Apple stock was falling early on Friday after the company put a number on its financial hit from President Donald Trump’s tariffs. While a plan to build more iPhones in India should help it escape the worst of the levies, Wall Street is still nervous about what comes next. CEO Tim Cook told analysts that shipping devices sold in the U.S. from India and Vietnam, rather than China, would add about $900 million to the company’s costs for the June quarter in the company’s earnings call on Thursday.
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