Apple Inc

AAPL: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Apple Earnings: Tariffs Loom Large, but We Continue to Expect a Long-Term Exemption

William Kerwin

May 2, 2025

Apple's March-quarter revenue rose 5% year over year to $95.4 billion, with iPhone revenue rising 2% to $46.8 billion. March-quarter gross margin rose 50 basis points year over year to 47.1%. June-quarter guidance calls for modest year-over-year revenue growth and sequential margin contraction.

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Apple Inc

Apple Earnings: Tariffs Loom Large, but We Continue to Expect a Long-Term Exemption

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