Apple said it sold 41.3 million iPhones in the latest quarter, up less than 1 percent from a year earlier. With the huge profits, Apple unveiled plans in April to buy back $100 billion in stock. On Tuesday, the company said it had returned $25 billion to shareholders in the quarter, including $20 billion in share repurchases. Apple makes most of its products in China, which is also its third-largest sales market. New American tariffs on goods could hit some Apple devices, like the Apple Watch, while the Chinese authorities could also look to hamstring Apple’s operations there in retaliation for the tariffs.

Source: New York Times July 31, 2018 21:00 UTC