Apple Earns $2.2 Billion in Tariff Refunds

*Apple received an estimated $2.19 billion in tariff refunds […] Apple reported a gross margin of 50.1%, with tariff refunds contributing a favorable impact of around two percentage points. The refunds also increased diluted earnings per share by $0.11, bringing the final figure to $2.02 per share. Apple previously said tariffs had cost the company about $3.2 billion, which means roughly $1 billion in refunds remains unaccounted for. The company expects another one percentage point benefit during the September quarter as it receives more repayments. […] Apple plans to reinvest the tariff refunds in the United States. The company continues to expand its spending on domestic manufacturing, suppliers, infrastructure, and other operations.”* https://www.macobserver.com/news/apple-earns-2-2-billion-in-tariff-refunds-more-still-coming/