The iPhone maker warned that it may take a $900 million hit from President Trump’s levies, showing that even powerful companies aren’t immune from the trade war.

The real hit for Apple from tariffs could start in this quarter, to the tune of perhaps $900 million, executives warn Wall Street.Kevin Frayer/Getty ImagesThe worst is yet to come

Wall Street had been anxiously awaiting the latest quarterly results from Amazon and Apple to see how badly the companies — of the so-called Magnificent Seven tech giants, perhaps the most vulnerable to President Trump’s trade war — would get hit by tariffs.

The answer: not too badly. But upcoming quarters may be messier, showing that not even hugely powerful corporations are immune to Trump’s assault on global commerce.

The highlights:

Apple exceeded analyst expectations in the most recent quarter, with $24.78 billion in profit and

Keep reading this article on Andrew Ross Sorkin – Author New York Times.

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