“There will be two ways to interpret Apple’s 1Q17 earnings report,” Neil Cybart writes for Above Avalon. “On an absolute basis, Apple is going to report its best quarter yet. Records will likely be broken when it comes to quarterly revenue, gross profit, iPhone unit sales, Apple Watch unit sales, and Services revenue. However, if judging Apple by year-over-year growth, Apple will report simply an OK quarter. Most line items will show only modest improvement from 2016 results.”

There will be a few numbers holding extra importance when Apple reports 1Q17 results on Tuesday.

• iPhone ASP
• Other Products revenue
• iPad unit sales
• R&D expense
• 2Q17 guidance

“For Apple’s 1Q17 earnings report, I am publishing three expectations meters: iPhone sales, iPad, sales, and 2Q17 guidance. My iPhone unit sales expectation range stretches from 77M to 81M iPhones,” Cybart writes. “Turning to iPad, unit sales between 15M and 16M would fall within my expectations range. Unit sales in excess of 16.1M would signify the iPad has returned to unit sales growth… Apple looks to be in a good position to report a revenue guidance range that exceeds 2Q16 results, implying ongoing revenue growth. ”

Much more in the full article – recommendedhere.

MacDailyNews Take: Expect all-time quarterly record earnings, but, as is almost always the case, Q217 guidance will be very important.

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