Huatai Securities: Apple (AAPL.US) Q2 tariffs impact less than expected, but sustainability is doubtful.

According to the Wise Finance and Economics APP, in the overnight earnings call, Apple (AAPL.US) CEO Tim Cook pointed out that in the 4-6 quarter, tariffs will impact $900 million in profits (3.6% of net profit). Most products sold in the US will be shipped from India and Vietnam, progress is faster than expected, but he refused to comment on the impact for the 7-9 quarter. Huatai Securities technology analyst believes that considering India still lacks mass production capacity, if the current tariffs continue, it is expected that the iPhone 17, which will be released in September, will still need to be shipped from China in the initial stage, so the impact on the 7-9 quarter will be several times the $900 million.