He also affirmed expectations that Apple will in future make the vast majority of its US-bound iPhones in India - reducing output from China as the Donald Trump administration threatens to slap punitive tariffs on its Asian rival. India was mentioned almost as many times as China on Thursday's post-earnings conference call, reflecting its rising importance.
Apple plans to source more than 19 billion chips from the US this year, part of a global supply chain shift to gradually lessen its reliance on China and elevate India for iPhone production.
CEO Tim Cook talked about leaning more heavily on Taiwan Semiconductor Manufacturing Co., which is expanding its Arizona operations to half a dozen plants.
