Quarterly earnings from two of the world’s most valuable companies show how President Donald Trump’s trade wars threaten their bottom line.

Key Takeaways Apple shares slid Friday amid worries about tariffs after CEO Tim Cook said they could cost the company $900 million this quarter.Wedbush said Apple's shift toward importing iPhones from India could help the company navigate the "tariff tornado.

Warren Buffett had kind words for Apple CEO Tim Cook, who was at Berkshire Hathaway's annual meeting in Omaha. “I am embarrassed to say that Tim Cook made more money for Berkshire than I ever did so credit should be given to him,

Apple CEO Tim Cook publicly addressed the impact of tariffs on the iPhone maker’s business for the first time on an earnings call Thursday, saying they could add $900 million to the company’s overall costs.

And Apple CEO Tim Cook had quite a carefully crafted statement. (Check out CNET's regularly updated tariff pricing tracker.) And the word of the day for this earnings call was "color." "Now let me walk you through the impacts of tariffs in the March quarter and give you some color on what we expect for the June quarter,

Apple Inc. shares fell 5% on Friday after the company announced a reduced stock buyback program and warned of a $900 million cost impact from US-China tariffs this quarter. The move comes as CEO Tim Cook revealed Apple is accelerating its supply chain shift out of China, with most US-bound iPhones now being assembled in India.

Apple shares fell 5% on Friday after the company trimmed its stock buyback program and CEO Tim Cook flagged a $900 million tariff-related hit to costs this quarter amid a raging Sino-U.S. trade war.

Apple shares fell more than 4 percent in early trading Friday as investors weighed an outlook for the iPhone maker that’s clouded by tariffs. The company’s fiscal second-quarter results came in ahead of analyst estimates,