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Apple's quarterly earnings take a hit from increased tariffs, but CEO Tim Cook says prices won't rise yet.
Apple CEO Tim Cook estimates tariffs will add $900 million to costs in Q3 if current rates and policies don't change. Let’s dive deeper…
In today's ContentBuffer update:
Apple faces $900m tariff bill in Q3
Apple's tariff impact remains limited, says CEO
Peacock launches new series with TikTok influencers
Mach Industries secures 100 million in funding, valued at 470 million
Stripe enables iOS app developers to accept payments outside of the App Store, bypassing Apple's 30% commission
Dub raises $30M for copy-trading platform
5 new AI tools & 5 new AI jobs
More tech news
Latest Development
Business
Image source: TechCrunch
Summary: Apple faced a $900 million tariff bill in Q3, but the company's revenue and earnings per share still rose. CEO Tim Cook says prices won't increase for now, thanks to diversifying production
Key Points:
Apple reported Q1 revenue of $95.4 billion, with profits rising despite the tariff hit.
The company is diversifying its production by importing more iPhones from India and Macs from Vietnam.
Tariffs on accessories and AppleCare products had a bigger impact, with rates hitting at least 145%.
Why it matters: Apple's ability to absorb the tariff costs without raising prices highlights its financial strength, but may impact the tech industry as a whole.
Tech
Image source: TechCrunch
Summary: Apple CEO Tim Cook estimated that tariffs will add $900 million to costs in Q3 if current rates and policies don't change. He also warned that this estimate shouldn't be used to project the impact of tariffs in future quarters, as there are unique factors that benefit the June quarter.
Key Points:
Apple estimates tariffs will add $900 million to costs in Q3
The company can't forecast what that would mean for the coming quarter
There are 'unique factors' that benefit the June quarter
Why it matters: The impact of President Trump's tariffs on Apple's business is significant, and the company's estimates could influence investors' decisions.
New Shows
Image source: TechCrunch
Summary: Peacock is launching four new original series developed by TikTok creators. The shows are set to premiere on May 19. This marks a significant milestone in the intersection of social media and traditional television.
Key Points:
The Warehouse Phase
The Kouncil
Older Hotter Wiser
People Like Me
Why it matters: This development highlights the growing influence of social media platforms like TikTok in shaping the future of television and entertainment.
Defense Technology Funding
Image source: TechCrunch
Summary: Mach Industries secures $100 million in financing, valuing the company at around $470 million. The funding will support the development of vertical liftoff vehicles and weapons that can work from the edge of space. Mach is also developing smaller factories that can be easily built and distributed when more production is needed.
Key Points:
Mach Industries has secured $100 million in financing, valuing the company at around $470 million.
The funding will support the development of vertical liftoff vehicles and weapons that can work from the edge of space.
Mach is also developing smaller factories that can be easily built and distributed when more production is needed.
Why it matters: This fresh funding will enable Mach Industries to further develop its innovative defense technology, which has the potential to revolutionize the industry.
Mobile Payments
Image source: TechCrunch
Summary: Stripe provides a quick guide for iOS developers on how to set up a link inside their app to accept payments for digital goods using Stripe Checkout. This option redirects customers to a secure, Stripe-hosted payments page as part of the new checkout experience.
Key Points:
Stripe's payment processing fees are 2.9% plus $0.30 per transaction, making it a more affordable alternative to Apple's commission
The new documentation explains how developers can set up a link inside their app to accept payments on iOS for digital goods using Stripe Checkout
Using Stripe requires developers to set up and maintain their own payment pages and checkout experiences
Why it matters: This development opens up new business opportunities for app developers, allowing them to keep more of their revenue and create more innovative and competitive offerings.
Financial Technology
Image source: TechCrunch
Summary: Dub, a copy-trading platform, raises $30M in Series A funding. The platform allows users to mirror the investment strategies of successful traders and has surpassed 1 million downloads.
Key Points:
The platform allows users to mirror the investment strategies of successful traders
Dub has surpassed 1 million downloads
The platform costs $10 per month to subscribe
Why it matters: This funding round demonstrates the growing interest in copy-trading platforms and their potential to democratize investing.
New Jobs
Patchstack - Senior Backend Developer (PHP/Laravel)
WebPunch - Mid-Senior Rails Systems Monitoring & Quality Assurance
SimplyAnalytics - Senior Data Engineer
Aurora Payments - Senior Financial Data Engineer (EU/UK/LatAm/UAE)
ZipChat - AI RAG engineer, Ruby on Rails | Earn equity
QUICK HITS
🔥 FutureHouse, an Eric Schmidt-backed nonprofit, launches its first major product: a platform and API with AI-powered tools designed to support scientific work.
💸 Bench, the accounting and tax startup, has conducted a round of significant layoffs, cutting dozens of positions.
🤖 Ai2's new model beats larger models from Google and Meta on several benchmarks.
🚗 Startup May Mobility plans to deploy its autonomous vehicles on the Uber platform by the end of 2025.
🎮 Epic Games Store will allow developers to open webshops, enabling out-of-app purchases and circumventing fees from Apple and Google.
THAT’S A WRAP
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