“The risks to Apple are real,” she said. “Regulation is coming and tariffs are back in the headlines, with the US still locked in negotiations with China. And for firms like Apple, global politics and supply chains still matter a lot.”

Apple's posted fiscal third-quarter earnings on Thursday afternoon, with investors focused on the company's ability to contend in AI and financially manage the evolving tariff landscape.

Apple tops Wall Street expectations with strong iPhone sales. By The Associated Press