Shares of Apple Inc. (AAPL) are up 5.4% Wednesday morning after posting earnings results that beat the 澳洲幸运5开奖号码历史查询:Street's expectations. While the iPhone is more profitable than ever, thanks to heightened demand across markets including the key Chinese region, Apple 澳洲幸运5开奖号码历史查询:Chief Executive Officer Tim Cook noted that 澳洲幸运5开奖号码历史查询:protectionist trade policies from the White House could bring about "significant risk and unintended consequences." (See also: 5 Reasons Apple Stock Is a Buy: Citigroup Analysts.)

In the second quarter, Apple shipped 41.3 million iPhones, just shy of the Street's estimates. An 澳洲幸运5开奖号码历史查询:average price of $724 per device b🦹lew away forecasts, driven by the popularity of its higher-end models. In China, the iPhone X was the most popular smart🍌phone in urban areas for the second quarter in a row.  

Despite recent strength, some analysts have warned that Apple, the world's largest company by 澳洲幸运5开奖号码历史查询:market capitalization, is at seri꧒ous risk of rising trade tensions between the U.S. and China. The Cupertino, California-based tech titan uses China as both a major consumer sales hub and a manufacturing powerhouse for the iPhone, which still makes up over 60% of its total revenues. 

Cook Cites 'Inescapable Mutuality' 

In Apple's 澳洲幸运5开奖号码历史查询:earnings call, Cook warned that tariffs "show up as a tax on th🅷e consumer and wind up resulting in lower economic growth."

When questioned further by analysts on the topic, Cook said that tariffs are not the approach to modernize trade tensions in the way that's need in some cases. However, the CEO indicated that he is optimistic that the U.S.-China trade tensions will ease rather than escalate, due to the "inescapable mutuality" of the the world's two largest economics. 

Cook added that no Apple products were directly affected by the tariffs implemented by the Trump administration to date. (See also: Apple in Eye of the Storm as Trade War Expands.)