Do Son 
Apple recently announced its financial results for the second quarter of fiscal year 2025, reporting revenue of $95.4 billion—a 5% increase compared to the same period last year. CEO Tim Cook also disclosed that, due to the Trump administration’s tariff policies, the company anticipates an additional $900 million in costs next quarter. To mitigate the impact of these tariffs, Cook revealed that the majority of iPhones sold in the U.S. next quarter will be manufactured in India, while most iPads and Macs destined for the U.S. market will be produced in Vietnam.
Apple confirmed that the new tariffs will result in the $900 million increase in expenses and that adjustments to the production origins of U.S.-bound iPhones are underway. However, the company emphasized that China will remain the primary hub for assembling Apple products not intended for the U.S. market. Tim Cook did not clarify whether higher-end iPhone models will continue to be assembled in China.
According to previous market analyses, it is widely believed that newer iPhone models will likely still be assembled in China, where manufacturing expertise is more mature. This shift is expected to result in price increases for iPhones sold in the U.S. this fall, with potential ripple effects on pricing in other regions due to tariff implications.
Tim Cook noted that the evolving trade environment has made it increasingly difficult to forecast the impact of future tariff policies. As a result, Apple is closely monitoring developments for any potential shifts. He further explained that current iPhone models already incorporate a significant number of chips manufactured within the United States and that Apple plans to procure as many as 19 billion U.S.-produced chips within the year.
In terms of product performance, iPhone revenue reached $46.84 billion last quarter, reflecting a 1.9% year-over-year increase. Mac sales generated $7.95 billion in revenue, marking a 6.7% rise, while iPad revenue climbed to $6.4 billion—up 15.2% from the same period last year. Revenue from wearables and home devices, including the Apple Watch, amounted to $7.52 billion, representing a 5% decline.
Service revenue reached $26.65 billion, growing by 11.6%, and now accounts for 28% of Apple’s total revenue—far surpassing hardware sales, which represent just 2.7%. Services are expected to remain a key pillar of Apple’s long-term revenue strategy.
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