What to Expect From Apple’s Earnings Next Week Following New Macs

[ad_1]

Apple will report its earnings results for the third quarter of its 2023 fiscal year on Thursday, August 3 at 1:30 p.m. Pacific Time. Apple’s CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.

New Macs 2023
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

New Products During Quarter

The quarter ran from April 2 through July 1, according to Apple’s fiscal calendar, and included the following product launches:

  • 15-inch MacBook Air (M2 chip)
  • Mac Studio (M2 Max and M2 Ultra chips)
  • Mac Pro (M2 Ultra chip)

Year-Over-Year Revenue Decline Expected

Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $81.6 billion this quarter on average, according to Yahoo Finance. This would be a decline of around 1.7% compared to the $83 billion revenue the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple’s earnings call last quarter:

We expect our June quarter year-over-year revenue performance to be similar to the March quarter, assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on August 3 to discuss the company’s third quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple’s Investor Relations page, and a recording will be available later in the day for replay.

What’s Next

Apple’s fourth quarter began July 2 and runs through September 30. Apple has yet to announce any new products during the quarter, but new iPhone and Apple Watch pre-orders are expected to begin in the final few weeks of the quarter.

AAPL is currently trading at around $194, and is up around 55% since the start of the year.

Popular Stories

Apple’s ‘My Photo Stream’ Service Shuts Down on Wednesday, Here’s What You Need to Do

Apple last month announced that its “My Photo Stream” service is set to shut down on Wednesday, July 26, 2023, which means customers who are still using that feature need to transition to using iCloud Photos before that date. Keep reading to learn what it means for you and whether you need to take action. What is My Photo Stream? Originally launched in 2011, My Photo Stream is a free…

Apple Releases macOS Ventura 13.5

Apple today released macOS Ventura 13.5, the fifth major update to the macOS Ventura operating system that was released in October. macOS Ventura 13.4 comes a month after the launch of macOS Ventura 13.4, an update that brought minor features to the Apple News app and bug fixes. The ‌‌‌macOS Ventura‌‌‌ 13.5 update can be downloaded for free on all eligible Macs using the…

Everything New in iOS 17 Beta 4

Apple has released the fourth beta of the upcoming iOS 17 software release to developers for testing purposes, and like almost all new betas, the operating system brings a number of small tweaks and changes as Apple refines the software ahead of launch. Here’s everything new that we’ve found so far in the fourth beta of iOS 17. NameDrop Toggle In the AirDrop menu in Settings, Apple has…

Report Delves Into Why Apple and Goldman Sachs Want to Break Up

Recent rumors have suggested that Goldman Sachs is aiming to end its financial partnership with Apple, and The Information today shared a new report on what went wrong and why the relationship between the two companies fell apart. Goldman Sachs is Apple’s partner on the Apple Card, the Apple Savings account that is open to Apple Card users, and Apple Pay Later, Apple’s buy now, pay later…

Bloomberg: Apple Considering Price Hike for iPhone 15 Pro Models

Apple is “considering” raising the price for both Pro models in its upcoming iPhone 15 series, according to Bloomberg. Citing unnamed people familiar with the matter, the report claims that despite a projected decline in the overall smartphone market, Apple plans to increase its overall revenue by raising the price of the iPhone 15 Pro and iPhone 15 Pro Max. This isn’t the first time…

Apple Releases iOS 16.6 and iPadOS 16.6 With Bug Fixes and Security Updates

Apple today released iOS 16.6 and iPadOS 16.6, the sixth point updates to the iOS 16 and iPadOS 16 operating systems that first came out last September. The launch of iOS 16.6 comes over a month after the release of iOS 16.5, an update that brought minor changes to Apple News. ‌‌iOS 16‌‌‌.6 and iPadOS 16.6 can be downloaded on eligible iPhones and iPads over-the-air by going to Settings >…

iPhone 15 Rumored to Debut Hybrid Lens With Larger Aperture Ahead of Further Upgrades in 2024

The iPhone 15 lineup will feature a glass-plastic hybrid lens with an ƒ/1.7 aperture before Apple expands the technology with next year’s iPhone 16 models, according to a recent claim from the Twitter user “RGcloudS.” The upgrade will apparently make the iPhone 15 series the first global smartphones with a hybrid lens design, since existing devices with this technology from the likes of…

[ad_2]

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *