Apple (AAPL) announced its second quarter earnings after the bell on Thursday beating on the top and bottom lines on better than anticipated iPhone sales, and saying it expects a $900 million headwind as a result of tariffs in its third quarter. But when pressed on potential tariff impacts beyond its June quarter, CEO Tim Cook declined to comment saying he didn't want to "predict the future."

The announcement comes as consumer technology companies are contending with Trump's 145% tariff on goods from China. Apple's iPhones, iPads, and other computers, however, are exempt from the duties. Apple said it is sourcing the majority of its iPhones destined for the US from India.

Apple shares were down more than 4% following the company's earnings call.

For the first quarter, Apple reported earnings per share (EPS) $1.64 on revenue of $95.4 billion. Wall Street was anticipating EPS of $1.62 and revenue of $94.2 billion, according to Bloomberg consensus estimates. The company also authorized an additional $100 billion in stock buybacks.

Apple generated $16 billion in revenue in the Greater China region. Analysts were anticipating $16.8 billion.

Apple's iPhone revenue came in at $46.8 billion outstripping expectations of $45.6 billion, and higher than than the $45.9 billion the company reported in Q2 last year.

Mac and iPad revenue of topped out at $7.9 billion and $6.4 billion, respectively. That topped analysts' expectations of $7.7 billion in Mac sales and $6.1 billion in iPad sales. Apple's services revenue came in at $26.6 billion, a hair shy of an anticipated $26.7 billion.

Apple stock is down 15% year to date but up 25% over the past 12 months.

Read more about Apple's stock moves and today's market action.

According to Reuters, Apple worked to get ahead of the tariffs by shipping 600 tons of iPhones from India to the US. The company is also leaning more heavily on its India operations for devices destined for America because that country faces a lower 26% reciprocal tariff versus China. According to the Financial Times, Apple hopes to eventually source all US iPhones from India.

But the Trump administration hasn't ruled out the potential for future tariffs on those goods. The White House is currently working on a plan for duties on semiconductors and has said those could also apply to things like smartphones and computers.

Read more: The latest news and updates on Trump's tariffs

"We don't think Apple is 'out-of-the-woods' yet," KeyBanc analyst Brandon Nispel wrote in an investor note ahead of Apple's report. "We continue to see consensus expectations as too high for [Apple], particularly looking out to FY26, which calls for an accelerating growth profile."