Apple has already spent hundreds of billions because of the tariffs, but Tim Cook says the bill may only grow in the coming months.
Apple might be ready to pay big for AI companies, but it’s already spending a lot on Trump’s tariffs. During the company’s latest earnings call, Apple CEO Tim Cook said that tariff spending could surpass $1.1 billion during the September quarter.
In March 2025, during the previous earnings call, Cook predicted that Apple would spend $900 million on tariffs in the quarter that ended in June. On yesterday’s call, he said that the company has spent around $800 million during the June quarter and expects a cost of over $1 billion in the current quarter, reports The Verge. That would add an extra $1.9 billion spent on tariffs in only six months.
For the September quarter, assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and no new tariffs are added, we estimate the impact to add about $1.
