Apple's quarterly sales and profit for the second quarter narrowly beat out Wall Street expectations as iPhone sales were strong in the face of impending tariffs

Apple on Thursday reported results that narrowly beat Wall Street expectations as consumers stocked up on iPhones amid fears of potential import taxes on its signature device from President Donald Trump.

Apple's profit and revenue for the fiscal second quarter topped Wall Street's expectations, but investors are waiting to hear what CEO Tim Cook has to say about the impact of tariffs and economic uncertainty on its business.

Apple CEO Tim Cook said Thursday that the majority of iPhones sold in the U.S. in the current fiscal quarter will be sourced from India, while iPads and other devices will come from Vietnam as the company works to avoid the impact of President Trump's tariffs on its business.

The company announced it upped its quarterly cash dividend to $0.26 per share and its board approved a $100 billion share buyback program.

A judge said that Apple failed to comply with a prior injunction order, which was imposed in an antitrust lawsuit brought by the “Fortnite” maker.

A federal judge has found that Apple violated a court injunction in an antitrust case filed by Fortnite maker Epic Games.

Apple Inc. “outright lied” and willfully ignored an antitrust ruling to open up its App Store, a federal judge said late Wednesday as she blocked Apple from collecting new fees on certain purchases.