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Good morning from the Financial Times.
Today is Friday, August 1st, and this is your FT News Briefing.
Apple had a stellar quarter, and today is a turning point in the global trade war.
Plus, Samsung could reverse its fortunes through a chip-making deal with Tesla.
I'm Sonia Hudson, and here's the news you need to start your day.
Apple posted much better than expected revenues on Thursday for the quarter.
That was thanks to a surge in iPhone sales and a rebound in China.
Revenue increased about 10% year-on-year to $94 billion.
That was well above estimates.
The company told the FT there was some evidence that sales were boosted by customers placing orders to get ahead of U.S. tariffs.
In China, Apple had suffered from competition from local companies like Huawei.
But revenue increased there by 4 percent in the quarter from a year ago.