Key Takeaways
- Apple (AAPL) reported a strong third quarter for 2025, with revenue of $94.04 billion and EPS of $1.57, significantly exceeding analyst estimates, driven by robust iPhone revenue of $44.58 billion and a rebound in the China market.
- President Trump issued a 10-day ultimatum to Russia, threatening new tariffs and sanctions by August 8 if a ceasefire in Ukraine is not reached, though he expressed uncertainty about their effectiveness on President Putin.
- Trump continued his strong criticism of Federal Reserve Chair Jerome Powell, calling him "terrible," a "political hack," and a "total loser," and stating that appointing him was a mistake, advocating for immediate interest rate cuts.
- Total money market fund assets rose by $1.52 billion to $7.08 trillion for the week ended July 30, according to the Investment Company Institute (ICI).
- Trump indicated that Canada's stance on recognizing a Palestinian state could complicate ongoing trade negotiations, while also announcing the finalization of other trade agreements and criticizing Iran's behavior.
Apple's Q3 Performance Exceeds Expectations
Apple (AAPL) delivered a strong third-quarter performance for 2025, surpassing Wall Street's revenue and earnings per share (EPS) estimates. The tech giant reported revenue of $94.04 billion, exceeding the estimated $89.3 billion, and an EPS of $1.57, higher than the $1.43 consensus. This marks Apple's eleventh consecutive earnings beat.
The robust results were largely fueled by strong iPhone sales, which reached $44.58 billion, significantly beating the $40.06 billion estimate. Services revenue also contributed positively, coming in at $27.42 billion against an estimated $26.85 billion. The company saw a notable rebound in sales in China, a key market, and benefited from some consumers accelerating purchases ahead of potential tariff increases.
Trump's Stance on Russia, Sanctions, and Ukraine
President Trump has set a firm deadline for Russia regarding the ongoing conflict in Ukraine. He stated that Russia has 10 days, until August 8, to agree to a ceasefire, or face new tariffs and secondary sanctions. These potential measures could include "severe" tariffs of up to 100% on Russian exports, and secondary sanctions targeting countries that continue to purchase Russian oil, gas, and other products, such as China and India.
Despite the ultimatum, Trump expressed uncertainty about the impact of these sanctions, stating he is "not sure if sanctions have any impact on Putin" and that the tariffs "may or may not affect them." He also reiterated his view that the U.S. "shouldn’t be involved in Russia’s war", a position he has held previously, even suggesting Ukraine "should have never started the war". The Kremlin has acknowledged Trump's ultimatum but indicated that the war would continue regardless of the threats.
Trump's Continued Criticism of Fed Chair Powell
President Trump intensified his criticism of Federal Reserve Chair Jerome Powell, labeling him "nothing but a political hack" and a "terrible Federal Reserve Chair." He reiterated that appointing Powell was a "mistake" and called him a "total loser" who is "too late, and actually, too angry, too stupid, & too political."
Trump has repeatedly urged the Fed to cut interest rates, arguing that high rates are detrimental to the U.S. economy. He also alluded to a controversy surrounding the renovation of the Federal Reserve's headquarters, suggesting Powell has "some problems" related to the spending.
Money Market Fund Assets Climb
In a separate financial development, total money market fund assets increased by $1.52 billion, reaching a total of $7.08 trillion for the week ending July 30, according to data from the Investment Company Institute (ICI).
Foreign Policy and Trade Developments
President Trump commented on Canada's recent announcement regarding its stance on a Palestinian state, stating, "I didn’t like Canada’s comments supporting a Palestinian state," and that this position "will make it very hard for us to make a Trade Deal with them." This comes as the U.S. and Canada are working to negotiate a trade deal by an August 1 deadline, with Trump threatening a 35% tariff on Canadian goods not covered by the US-Mexico-Canada Agreement (USMCA) if no deal is reached.
Regarding Iran, Trump stated that "Iran hasn’t been saying the right things or speaking respectfully" and that "Iran’s behavior has been very bad." He also mentioned having "held off on tariffs earlier because of COVID" and affirmed that the U.S. has been "winning from the start" on tariff lawsuits. Trump also recently finalized other trade agreements, including deals with Pakistan to develop oil reserves and South Korea, which includes a 15% tariff on South Korean goods in exchange for investment and energy purchase commitments.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.