Skittish tech investors have been desperately looking for concrete answers on just how much US President Donald Trump’s tariffs are going to cost them. Apple and Amazon just gave them the corporate equivalent of a giant shrug.
Presenting March quarter earnings on Thursday night, Apple boss Tim Cook tried his best to play down the pain. “Assuming the current global tariff rates, policies and applications do not change for the balance of the [June] quarter, and no new tariffs are added, we make the impact to add $US900 million ($1.4 billion) to our costs,” he told investors.
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