Apple CEO Tim Cook offered the company's first comments on the impact of President Trump's tariffs during Thursday's second-quarter earnings call with

Both by getting an exemption, and by toiling for seven years to diversify its iPhone manufacturing efforts outside of China, the $900 million estimate of tariff impacts in the third quarter is paltry compared to what it could have been,

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