Apple renews fears about tariffs, China with disappointing quarterly report

Apple Inc.’s much-awaited quarterly earnings report failed to soothe investor concerns about its biggest challenges, including escalating tariff costs and a slowdown in China.

The company’s shares declined as much as 4.2 per cent in late trading Thursday after Apple released second-quarter results that included worse-than-expected sales in China. The iPhone maker also warned that tariffs will increase costs this quarter, a sign that geopolitical tensions are taking a growing toll on the world’s most valuable business.