Apple Says Tariffs Will Add $900 Million in Costs This Quarter

Apple Inc. Chief Executive Officer Tim Cook said that planned US tariffs on foreign imports will add $900 million in costs in the current period.

“We estimate the impact to add $900 million to our costs,” he told analysts on a conference call after releasing quarterly financial results. “This estimate should not be used to make projections for future quarters, as there are certain unique factors that benefit the June quarter,” Cook cautioned.