That is how much tariffs will add to Apple's costs this quarter, assuming existing policies remain in place, said Chief Executive Tim Cook. He forecast the hit could worsen further ahead. Shares in the iPhone maker fell nearly 3% in premarket trading.

For the June quarter, we do expect the majority of iPhones sold in the US will have India as their country of origin, and Vietnam to be the country of origin for almost all iPad, Mac, Apple Watch, and AirPods products also sold in the US. China would continue to be the country or original for the vast majority of total product sales outside the US.

Apple shares fell nearly 3% on Friday after the iPhone maker trimmed its share buyback program and CEO Tim Cook warned of additional tariff-related costs of about $900 million this quarter amid a raging Sino-U.

iPad, Mac, iPhone, and services revenue was up as Apple contends with major legal challenges and AI setbacks.

Apple (AAPL) , which earlier this year was under fire for failing to devote the proper resources to its AI investment thesis, made no mention of tariffs on its first quarter conference call in January.