On the impact of tariffs, Tim Cook said it's "very difficult to predict beyond June," while Apple's AI is "taking a bit longer than we thought."

Apple, the world's most valuable company, is among the many corporate giants scrambling to adapt their business operations to weather the barrage of tariffs unleashed by Trump. Earlier on Thursday, General Motors told investors it expected to take a $4 billion to $5 billion hit this year as a result of the automobile tariffs imposed by Trump.