2/5/2025, 9:11:02 pm

Apple shares fall 5% as buyback cuts, tariff fears fan investor jitters

Apple shares dropped 5% after reducing its stock buyback program and citing a $900 million tariff-related cost hit. CEO Tim Cook announced efforts to shift supply chains away from China, including manufacturing iPhones in India. Apple reported $95.36 billion in quarterly sales, beating expectations, but warned of moderate growth. The company is preserving cash amid trade uncertainty.