Pakistan, May 3 -- Apple Inc. shares dropped significantly on Friday. They fell by 5%. This happened after two key announcements. Apple revealed a reduced stock buyback program. The company also warned about costs from US-China tariffs. These tariffs could cost Apple $900 million this quarter. This news worried investors.

Apple CEO Tim Cook also shared important information. Apple is moving its supply chain out of China faster. Most iPhones for the US are now made in India. This shift aims to reduce risks. Other products like iPads and Macs will also be made outside China. This includes products for the US market.

Apple's buyback plan is now $100 billion. Last year, it was $110 billion. This reduction is unusual for Apple. Investors are...