That’s not to say tariffs won’t hurt; CEO Tim Cook said tariffs will likely cost the company $1.1 billion this quarter. But analysts say Apple has bigger concerns, such as its future product strategy and approach to artificial intelligence, a burgeoning field that the tech behemoth is perceived to be behind in.

President Donald Trump is expected to celebrate at the White House a commitment by Apple to increase its U.S. investments by an additional $100 billion over the next four years