Tim Cook hosted his final quarterly earnings call as Apple's CEO Thursday evening, and it ended on a positive note: Apple beat Wall Street analysts' revenue estimates. But it appears to have done so via a one-time windfall: an estimated $2.19 billion in tariff refunds."Company gross margin was 50.1 percent, including a favorable impact of approximately 2 percentage points from tariff refunds," the company announced in a press release. "Diluted earnings per share was $2.02, up 29 percent year over year, and included a favorable impact of $0.11 from tariff refunds."The $2.19 billion figure is an estimate based on the company's reported total revenue of $109.4 billion. SEE ALSO: Apple could still release new Apple Home Pods, a folding iPhone, and OLED MacBooks this year Apple's stock dropped following its revenue report. The one-time tariff rebate artificially inflated the company's gross margin. Without it, the company failed to beat analysts' expectations, per CNBC.President Trump aggressively pursued global tariffs after he returned to the White House, resulting in a shock to the global economic system and a wave of price increases on consumer tech products. However, in February, the U.S. Supreme Court ruled that the Trump administration lacked the authority to unilaterally impose tariffs under the International Emergency Economic Powers Act of 1977 (IEEPA), striking down Trump's signature economic policy.As a result, many companies — like Apple — became eligible for refunds for the tariff fees levied against them.Apple was one target of the Trump administration's tariffs, and that's not speculation. The president expressed a desire for the iPhone to be manufactured domestically (which most experts agreed was not technically possible); at one point, Trump threatened Apple specifically with 25 percent tariffs in a Truth Social post. Apple wasn't the only company that faced tariff costs in the billions. But in the end, the company recouped billions.Previously, Apple disclosed that it paid more than $3.3 billion in tariff fees. During the Q2 2026 earnings call, Cook said any tariff refunds would be reinvested in the U.S.

Threat actors with ties to North Korea have been attributed to a sophisticated macOS malvertising campaign that involves redirecting users to fake web pages displaying a full-screen non-existent update sequence to deliver malware as part of a new iteration of the long-running Contagious Interview campaign. The defining aspect of the attack is that bogus macOS software update screen stealthily

Published 6 minutes ago on July 30, 2026 By Julia Wendling Graphics & Design Athul Alexander LinkedIn WhatsApp Facebook Twitter Bluesky Reddit Telegram Email The following content is sponsored by New York Life Investment Management Investing Through Financial Distress Financial pressure can make it difficult to think beyond the present. Yet periods of uncertainty have always been part of investing, making a long-term perspective more important than ever. Created in partnership with New York Life Investment Management, this visual examines how financial strain is affecting both the broader economy and American households, while highlighting why staying invested can matter during volatile markets. U.S. Debt-to-GDP Near All-Time Highs America’s debt burden has grown steadily over the past several decades. Household, business, and government borrowing have all contributed to total debt reaching historically elevated levels. While debt has fallen from its pandemic-era peak, it still exceeds 250% of GDP, far above the long-term average of roughly 180%. Higher debt can leave the economy more vulnerable to rising interest rates, slower growth, and persistent inflation. Quarter & YearDebt-to-GDP (ratio) 2025:Q4256.7 2025:Q3256.3 2025:Q2255.8 2025:Q1257.8 2024:Q4257.7 2024:Q3259.1 2024:Q2258.7 2024:Q1260.2 2023:Q4259.6 2023:Q3259.9 2023:Q2261.1 2023:Q1260.7 2022:Q4262.3 2022:Q3264.9 2022:Q2266.3 2022:Q1269.1 2021:Q4268.1 2021:Q3271.5 2021:Q2275.1 2021:Q1277.2 2020:Q4281.0 2020:Q3281.9 2020:Q2302.6 2020:Q1260.5 2019:Q4251.9 2019:Q3251.9 2019:Q2251.6 2019:Q1252.6 2018:Q4252.3 2018:Q3251.2 2018:Q2251.0 2018:Q1249.9 2017:Q4250.0 2017:Q3251.1 2017:Q2251.5 2017:Q1250.5 2016:Q4251.0 2016:Q3252.1 2016:Q2251.6 2016:Q1251.3 2015:Q4249.2 2015:Q3246.9 2015:Q2246.6 2015:Q1246.2 2014:Q4246.3 2014:Q3245.4 2014:Q2247.7 2014:Q1250.0 2013:Q4247.3 2013:Q3247.2 2013:Q2248.4 2013:Q1248.0 2012:Q4248.9 2012:Q3248.4 2012:Q2247.6 2012:Q1246.7 2011:Q4247.5 2011:Q3248.4 2011:Q2247.0 2011:Q1248.4 2010:Q4247.7 2010:Q3248.7 2010:Q2248.9 2010:Q1250.0 2009:Q4249.4 2009:Q3252.6 2009:Q2252.5 2009:Q1249.0 2008:Q4243.7 2008:Q3237.1 2008:Q2232.6 2008:Q1233.3 2007:Q4229.3 2007:Q3227.8 2007:Q2226.1 2007:Q1224.2 2006:Q4222.5 2006:Q3221.1 2006:Q2219.5 2006:Q1216.9 2005:Q4216.0 2005:Q3214.4 2005:Q2213.9 2005:Q1211.6 2004:Q4211.4 2004:Q3210.3 2004:Q2209.3 2004:Q1207.7 2003:Q4200.0 2003:Q3200.1 2003:Q2200.7 2003:Q1198.0 2002:Q4197.1 2002:Q3194.9 2002:Q2193.2 2002:Q1192.1 2001:Q4191.6 2001:Q3190.5 2001:Q2186.7 2001:Q1186.7 2000:Q4185.1 2000:Q3185.5 2000:Q2184.8 2000:Q1187.4 1999:Q4186.5 1999:Q3187.7 1999:Q2187.3 1999:Q1186.9 1998:Q4185.9 1998:Q3186.3 1998:Q2187.0 1998:Q1185.2 1997:Q4184.1 1997:Q3184.0 1997:Q2184.0 1997:Q1184.9 1996:Q4184.7 1996:Q3186.0 1996:Q2186.1 1996:Q1187.1 1995:Q4186.4 1995:Q3187.0 1995:Q2187.4 1995:Q1185.6 1994:Q4185.1 1994:Q3185.7 1994:Q2185.4 1994:Q1186.3 1993:Q4186.8 1993:Q3187.6 1993:Q2186.8 1993:Q1185.9 1992:Q4185.3 1992:Q3186.7 1992:Q2187.0 1992:Q1188.2 1991:Q4188.8 1991:Q3188.1 1991:Q2188.4 1991:Q1188.9 1990:Q4188.2 1990:Q3185.2 1990:Q2184.3 1990:Q1184.2 1989:Q4184.2 1989:Q3182.3 1989:Q2182.0 1989:Q1181.9 1988:Q4182.1 1988:Q3182.2 1988:Q2181.7 1988:Q1181.8 1987:Q4180.0 1987:Q3180.7 1987:Q2179.8 1987:Q1178.6 1986:Q4177.5 1986:Q3174.2 1986:Q2171.5 1986:Q1167.7 1985:Q4166.3 1985:Q3160.6 1985:Q2158.9 1985:Q1156.1 1984:Q4153.0 1984:Q3150.4 1984:Q2148.1 1984:Q1146.6 1983:Q4145.0 1983:Q3145.2 1983:Q2145.3 1983:Q1145.1 1982:Q4144.1 1982:Q3142.2 1982:Q2140.3 1982:Q1139.7 1981:Q4136.2 1981:Q3133.7 1981:Q2134.7 1981:Q1132.8 1980:Q4135.8 1980:Q3138.1 1980:Q2138.0 1980:Q1135.9 1979:Q4135.5 1979:Q3134.9 1979:Q2134.5 1979:Q1133.9 1978:Q4133.0 1978:Q3133.5 1978:Q2132.7 1978:Q1135.8 1977:Q4134.0 1977:Q3132.7 1977:Q2132.2 1977:Q1132.9 1976:Q4132.9 1976:Q3132.9 1976:Q2132.0 1976:Q1130.7 1975:Q4131.7 1975:Q3132.3 1975:Q2134.0 1975:Q1134.1 1974:Q4133.1 1974:Q3133.9 1974:Q2133.5 1974:Q1133.6 1973:Q4132.1 1973:Q3133.1 1973:Q2131.8 1973:Q1132.0 1972:Q4132.7 1972:Q3132.7 1972:Q2132.1 1972:Q1132.9 1971:Q4134.4 1971:Q3132.5 1971:Q2131.8 1971:Q1130.8 1970:Q4134.0 1970:Q3131.8 1970:Q2131.6 1970:Q1131.4 1969:Q4131.6 1969:Q3130.2 1969:Q2130.6 1969:Q1130.8 1968:Q4132.3 1968:Q3131.8 1968:Q2131.4 1968:Q1132.5 1967:Q4135.1 1967:Q3133.4 1967:Q2133.3 1967:Q1132.6 1966:Q4132.3 1966:Q3132.5 1966:Q2133.3 1966:Q1132.4 1965:Q4134.0 1965:Q3135.2 1965:Q2136.8 1965:Q1136.8 1964:Q4138.4 1964:Q3136.9 1964:Q2137.2 1964:Q1136.5 1963:Q4137.7 1963:Q3137.1 1963:Q2138.4 1963:Q1137.6 1962:Q4137.6 1962:Q3135.5 1962:Q2135.6 1962:Q1134.7 1961:Q4135.8 1961:Q3136.4 1961:Q2137.0 1961:Q1137.7 1960:Q4137.5 1960:Q3134.4 1960:Q2134.0 1960:Q1131.7 1959:Q4133.8 1959:Q3132.5 1959:Q2130.5 1959:Q1130.8 1958:Q4131.4 1958:Q3132.0 1958:Q2134.6 1958:Q1133.7 1957:Q4130.1 1957:Q3127.8 1957:Q2127.9 1957:Q1127.6 1956:Q4128.3 1956:Q3129.2 1956:Q2129.2 1956:Q1129.9 1955:Q4129.0 1955:Q3128.6 1955:Q2129.0 1955:Q1129.1 1954:Q4131.5 1954:Q3132.0 1954:Q2131.9 1954:Q1130.7 1953:Q4129.3 1953:Q3126.5 1953:Q2123.8 1953:Q1122.9 1952:Q4123.1 1952:Q3125.3 1952:Q2125.4 1952:Q1123.1 These challenges extend beyond government finances. Higher borrowing costs affect businesses and consumers alike, creating financial pressure that can eventually show up in household budgets. Mortgage Delinquencies Are Rising in Many States Those economic pressures are becoming more visible across the country. As borrowing costs remain elevated, more homeowners are falling behind on their mortgage payments. In the first quarter of 2026, mortgage delinquency rates increased in 31 states compared with the end of 2025. Vermont recorded the largest increase, followed by Delaware, Louisiana, Florida, and Montana. Overall RankStateChange in Average No. Mortgage Loans Delinquent (Q1 2026 vs. Q4 2025) 1Vermont12.3% 2Delaware6.9% 3Louisiana4.4% 4Florida3.9% 5Montana3.7% 6Connecticut3.4% 7New Hampshire3.3% 8Colorado3.3% 9Texas3.0% 10Idaho2.8% 11North Carolina2.7% 12Rhode Island2.6% 13California2.5% 14Illinois2.4% 15Oregon2.1% 16Tennessee2.1% 17Nevada2.1% 18Alabama2.0% 19Alaska1.9% 20South Carolina1.6% 21Massachusetts1.5% 22Kentucky1.5% 23Arizona1.2% 24Wisconsin0.9% 25New Mexico0.7% 26Washington0.6% 27Pennsylvania0.5% 28North Dakota0.3% 29New Jersey0.1% 30South Dakota0.0% 31Michigan0.0% 32New York-0.1% 33West Virginia-0.2% 34Georgia-0.4% 35Kansas-0.4% 36Minnesota-0.6% 37Oklahoma-0.7% 38Arkansas-1.3% 39Ohio-1.4% 40Iowa-1.6% 41Hawaii-1.8% 42Utah-2.1% 43Virginia-2.2% 44Maryland-2.5% 45Indiana-3.2% 46Missouri-3.3% 47Maine-3.4% 48Mississippi-4.3% 49Nebraska-7.9% 50Wyoming-14.4% Conditions vary by region, but the broader trend suggests many households continue to adjust to a higher-cost environment. Financial stress at home can also influence how people approach investing. The Cost of Cashing Out of the Market Periods of market volatility often encourage investors to move into cash. While that may feel like a safer option, it can also mean missing some of the market’s strongest recovery days. On April 9th, 2025, the market gained nearly 10% in a single session. Investors who had already exited the market would have missed that rebound, demonstrating how quickly sentiment can change. Growth of $10k from December 31st, 2010 to December 31st, 2025 InvestmentStarting ValueEnding ValueAnnualized Return Fully Invested$10,000$106,24017.1% Miss the Best 10 Days$10,000$37,4379.2% Miss the Best 20 Days$10,000$25,5686.5% Miss the Best 30 Days$10,000$18,8354.3% No one can consistently predict when markets will recover. Staying invested allows investors to participate in those recoveries instead of trying to time them. Keeping a Long-Term Perspective Economic uncertainty and financial strain can make it tempting to focus on short-term risks. However, history shows that reacting emotionally to market volatility can come at a cost. While every investor’s situation is different, maintaining a diversified portfolio and staying focused on long-term goals may help investors navigate periods of financial stress with greater confidence. Explore more insights from New York Life Investments You may also like Markets2 months ago Top 5 Reasons Private Equity Is Drawing Investor Interest in 2026 Private equity is becoming a core allocation for investors seeking long-term growth and diversification beyond public markets. Investor Education5 months ago 5 Ways Women Are Reshaping Investing Women investors are redefining the investment landscape, driven by entrepreneurial momentum, expanding wealth, and evolving generational influence. 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