“Apple reports the results of its fiscal third quarter, the three months ended June 30, on July 26 after the markets close,” Aaron Pressman reports for Fortune. “Investors have low expectations, at least as measured by the average Wall Street analyst forecast. Expected revenue of $42.2 billion would reflect a 15% decline from last year, mainly due to a predicted 17% drop in the number of iPhones sold. Expected earnings per share of $1.40 is 24% less than a year ago.”
What to look for in Apple’s earnings report today:
• Did the lower-priced iPhone SE eat away at sales of more expensive models?
• Are service revenues still growing strongly?
• Will Tim Cook change his story again on the upgrade rate of current iPhone owners?
• Have Apple’s troubles in China gotten any worse?
• Are Macintosh and iPad sales getting better or worse?
Read more in the full article here.
MacDailyNews Notee: As always, we’ll bring your the results as soon as they are available (simply check our home page at 1:30pm PDT/4:30pm EDT today) and we plan to cover the conference call with live notes as usual. That link will appear on our home page around 1:45pm PDT/4:45pm EDT later today.
On April 26, 2016, Apple provided the following guidance for Q316:
– revenue between $41 billion and $43 billion
– gross margin between 37.5 percent and 38 percent
– operating expenses between $6 billion and $6.1 billion
– other income/(expense) of $300 million
– tax rate of 25.5 percent
Translation: At least one of these factors can be given a sufficiently negative spin so that we can make the stock tank again.
Uh….the stock has been tanking ALL YEAR long. Today the stock tanks all by itself, without any external involvement. Tim Cook’s Apple hasnt given investors ANY reason to be excited about the future. Apple Watch- A niche within a niche. Mac Development-AWOL, Software- Ditto.
Apple is just a mess under Tim Cook.
Cue drooling fan boys in 3….2…1…..
Apple is still the Number One company making oceans of cash and new products are about to be announced. No other company does as well. Not enough for the troll crowd who think they know better in their delusion. There’s always room for improvement for any company.
Cue drooling Birdseed and similar TC hating trolls in 3….2…1…..
Apple needs miracles tonight.
Investors can get better stock returns by putting their money into almost any other tech company without all the associated media BS. Tim Cook is running the company into a rut. There’s really nothing for investors to look forward to. Apple has become the iPhone company and without huge iPhone sales the stock is going to go nowhere no matter how decent the fundamentals are. Apple had the money to do so many other things but decided to let the competition first take the crumbs and then sit down and eat from Apple’s supper table. Tim Cook has to show he’s a gracious host. He’s nothing like Jeff Bezos who takes whatever he pleases and leaves not even scraps for rivals.
Don’t get me wrong. I understand the economy is weak. I’m only saying Apple didn’t bother with any backup plan although it was certainly capable of doing so. I honestly believe Apple is deliberately allowing the company to remain unattractive to investors in order to make it easier to buy back shares. At least I hope that’s what Apple is doing. Otherwise it makes little sense to simply let the company’s value drop when there’s no need to. I’m not angry, just a bit frustrated with Apple. I feel they’re capable of doing so much more. What really annoys me is how the news media is trying to make Apple look really bad just for the fun of it with all their nonsense articles.
The thing is, Apple being an iPhone company could be a lot better than it is today. Just look at the App Store. What a clusterf*uck! A total mess of an experience, where discoverability hardly exists in theory, much less practice.
Apple under Tim Cook long ago stopped being able to execute well. It shows up every day in the software.
Investors are not stupid. The miserable performance ALL YEAR of Apple stock is not some mistake. It’s the market telling us that Apple no longer performs. Sure it can coast for awhile on the iPhone, but those days are not unlimited.