CNBC AI News – August 1 – Apple CEO Tim Cook has revealed that concerns over potential tariff-induced price hikes spurred Apple users to accelerate device purchases in fiscal Q3 2025, providing a significant boost to the company’s performance that quarter.
Cook noted that the accelerated purchases contributed approximately one percentage point to Apple’s overall 10% year-over-year revenue growth in fiscal Q3. This pre-emptive buying spree was largely attributed to U.S. consumer anxiety surrounding potential tariffs.
As previously reported, initial tariff announcements by former President Trump in April triggered speculation about substantial iPhone price increases, with some forecasts suggesting a surge to as high as $2,300. This prospect drove consumers to purchase devices before the hypothetical tariffs took effect.
Notably, Apple absorbed $800 million in tariff expenses during the June quarter. Projections indicate that, barring any changes to the current tariff landscape or the imposition of new tariffs, the company anticipates bearing an $1.1 billion tariff burden in the September quarter. Consequently, analysts foresee a potential $50 price increase for the iPhone 17 series.
Jefferies analyst Edison Lee believes the price increase will impact the iPhone 17 Air, Pro, and Pro Max models, while the standard iPhone 17 is expected to remain unaffected.
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