That is how much tariffs will add to Apple's costs this quarter, assuming existing policies remain in place, said Chief Executive Tim Cook. He forecast the hit could worsen further ahead. Shares in the iPhone maker fell nearly 3% in premarket trading.

Key Takeaways Apple shares slid Friday amid worries about tariffs after CEO Tim Cook said they could cost the company $900 million this quarter.Wedbush said Apple's shift toward importing iPhones from India could help the company navigate the "tariff tornado.