*By Michael Teich* Though iPhones and Mac computers made in China have been spared U.S. tariffs, the brewing trade war between Washington and Beijing could finally catch up with Apple, the world's most valuable publicly traded company. None of the tariffs considered by the Trump administration so far have materially affected Apple's business, but in his third-quarter earnings call with analysts on Tuesday, Apple's CEO Tim Cook said it was too early to predict if other policies under consideration could affect the company's bottom line. "Our view on tariffs is that they show up as a tax on the consumer and wind up resulting in lower economic growth," Cook said in Tuesday's call. Mike Murphy of Quartz told Cheddar that consumers' willingness to pay for Apple's most expensive productーthe iPhone Xーis a good sign that even a trade-war inspired bump in prices for its other devices won't deter loyal iPhone users. "If we have no problem buying a $1,000 phone, we'll probably have no problem buying a $1,100 phone," Murphy said in an interview Wednesday. The iPhone represents Apple's biggest source of revenue. If tariffs were to hit Apple, they would likely affect the company's fastest-growing division, "Other Products," which includes Apple Watch, AirPods, and the HomePod. Revenue from other products reached $3.74 billion in the third quarter, up 36 percent from a year earlier. Apple doesn't disclose exact numbers for the Apple Watch, but Cook said sales grew in the "mid-40 percent range." Apple does not appear worried about the prospect of tariffs dampening its business. The Cupertino-based company delivered fiscal fourth quarter revenue guidance of between $60 billion and $62 billion, topping Wall Street's estimate of $59.47 billion, according to StreetAccount. For full interview, [click here](https://cheddar.com/videos/apple-spared-trumps-tariffs-for-now).

Share:
More In Technology
Apple on Verge to Become World's First $3 Trillion Company
Apple is on the verge of becoming the world's first-ever $3 trillion company as shares of the iPhone maker are inching closer to $182.86. Joel Hawthorne, head trader and CEO of The Morning Snapshot, joined Cheddar to discuss Apple's success and how the tech giant will continue to innovate. "One thing that we have to keep in mind is this stock somewhat moves like its own ETF," he said, describing the company as almost a "safe bet" for long-term investors.
Meme Stocks Tumble as Investors Dump Risky Assets
Gabe Pincus, president of the investment advisor GA Pincus Funds, joined Wake Up With Cheddar to break down what's happening with meme stocks, as retail trader favorites AMC, GameStop, and Bed Bath & Beyond all moved sharply lower on Monday. He noted that even with the drop there is still room for the meme stocks to tumble even more. "They're still up 500 percent, 800 percent, 900 percent from their all-time lows, so there's plenty more room for them to go down," said Pincus.
Global Consumer Spending in Mobile Apps Reached $133 Billion in 2021, Sensor Tower Says
While people have been spending more time on their phones throughout the pandemic, a new report shows they were also spending more money as well. A review from Sensor Tower on the global app ecosystem this year found that the app economy will see record consumer spending in 2021, up nearly 20% from 2020. Sensor Tower director of sales and financial institutions Anthony Bartolacci joins Cheddar News' Closing Bell to break down the report.
Load More