Apple posts strong earnings but tariff fears spook investors
Share price muted despite surge in iPhone sales driving record revenue
Share price muted despite surge in iPhone sales driving record revenue

Tech giant reports record annual profits as smartphone sales and services income pick up

The Q2 results are an unreliable gauge of America’s ability to weather tariffs

Chief executive Andy Jassy warns of further tariff policy uncertainty and who will bear the cost of them

Strong holiday season and boost from China drive 23% increase in smartphone revenue

Executives caution on future earning margins as Trump’s tariffs go into effect and it invests in new services

Investors today might be too complacent about the risks to earnings from slower growth and higher inflation