STORY: Apple forecast growth in the “mid to high single digits” for its current quarter ending September, beating expectations from analysts.

Its shares shot up despite CEO Tim Cook warning U.S. tariffs would add $1.1 billion in costs in the same period.

The tech giant reported $94 billion in revenue for its quarter ending in June.

That’s up nearly 10% from the same time a year ago.

In an interview with Reuters, Cook estimated that about 1 percent of the jump was due to customers buying ahead of potential tariffs.

The positive results were buoyed by its best-selling product – the iPhone.

Sales were up 13.5% – it beat analyst expectations by about $4 billion.

In Greater China, Apple saw positive gains – reversing a year-over-year decline in China sales in its March quarter.

Tariffs from U.S. President Donald Trump’s trade war cost Apple $800 million in the June quarter.

Apple has been shifting production of US-bound products to India and Vietnam.

While the U.S. is still negotiating with both China and India, analysts say India still holds cost advantages for Apple in the long-term.

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Cook also said Apple is “significantly growing” investments in AI and said the company is making “good progress” on an AI-enriched version of Siri.

That’s as other Big Tech rivals had pulled ahead of Apple on that front with AI leaders Microsoft and Nvidia in particular seeing stock market values soar to record highs.