Tariffs are momentarily good for Apple as customers rush to buy iPhones before prices rise

In the long run, tariffs on imports from China and other places where Apple manufactures its goods are bad news for the iPhone maker, as the tariffs could add hundreds of dollars to the cost of producing an iPhone. But in the short term, the specter of higher prices is driving consumers to upgrade their iPhones now to avoid higher tariff-related price tags later, The Wall Street Journal reports.

Apple had been struggling with sluggish iPhone demand thanks in part to its botched rollout of artificial intelligence features, and now the tariffs are cleaving market cap from the company. But hey, at least they got people to finally buy new iPhones!