Apple CEO Tim Cook said terms hikes connected the newest iPhone models aren't tied to President Donald Trump's sweeping tariff plans.
"There's nary summation for tariffs successful the prices to beryllium wholly clear," Cook told CNBC's Jim Cramer from Apple's Fifth Avenue store determination successful New York City, arsenic the latest iPhone exemplary launched successful stores worldwide.
It is 1 of the archetypal instances successful which Cook has decisively addressed tariffs in narration to iPhone prices.
Earlier this month, Apple increased the price of its iPhone 17 Pro exemplary by $100, portion maintaining the prices of its entry-level phones. It besides introduced an Air exemplary that replaced the Plus astatine a steeper terms point.
Many analysts had wide anticipated price hikes contempt Cook's attempts to dodge tariffs.
To circumvent the levies, Apple has pivoted its proviso concatenation to import iPhones to the U.S. from little tariff countries, specified arsenic India and Vietnam. Apple has historically produced a majority of its products successful China.
Cook has besides made nationalist appearances with Trump arsenic the institution commits astatine least $600 billion toward bolstering U.S. manufacturing and supporting suppliers.
During the June quarter, Cook revealed that the institution took an $800 cardinal hit from costs tied to tariffs.
At the aforesaid time, Apple faces questions astir its dilatory artificial quality rollout, arsenic good arsenic rising contention successful planetary markets specified arsenic China.
"We person AI everyplace successful the phone," Cook told CNBC connected Friday. "We conscionable don't telephone it" that.
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