1020 ET - Apple remains a top pick for Wedbush in the tech sector despite the current tariff Rubik's Cube clouding the near-term outlook, analysts say in a research note. The iPhone maker delivered "solid" F2Q results with results from China coming in ahead of expectations, according to Wedbush. Tariffs pose the biggest challenge, but Apple is leaning on production in India to evade the tariffs on China to a degree. The company says tariffs will cause a $900 million incremental expense in the June quarter, but the analysts say this could clearly rise or fall depending on negotiations. "The conference call gave confidence that Cupertino has its arms around the current tariff situation and this felt like a more confident Cook than the Street was fearing," say the analysts. Apple is off 4%. (denny.jacob@wsj.com; @pennedbyden)
(END) Dow Jones Newswires
May 02, 2025 10:20 ET (14:20 GMT)
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