“After three quarters in a row of year-over-year revenue declines, Apple returned to growth in its most recently reported quarter,” Daniel Sparks writes for The Motley Fool. “First-quarter revenue and EPS increased 3% and 2%, respectively, compared to the year-ago period. With the tech giant returning to growth, shares have soared about 20% in the past three months.”

“Now, with Apple’s second-quarter earnings report coming up next week, investors will look to see if Apple can sustain its upward growth trajectory,” Sparks writes. “As usual, Apple’s iPhone sales for the quarter will be key.”

“In Apple’s second quarter of 2016, the company sold 51.2 million iPhones, generating $32.9 billion in revenue,” Sparks writes. “Therefore, Apple will need to beat these figures for the company to continue growing the important segment on a year-over-year basis.”

Read more in the full article here.

MacDailyNews Take: On January 31, 2017, Apple provided the following guidance for Q217:

• revenue between $51.5 billion and $53.5 billion
• gross margin between 38 percent and 39 percent
• operating expenses between $6.5 billion and $6.6 billion
• other income/(expense) of $400 million
• tax rate of 26 percent

In Q216, Apple posted quarterly revenue of $50.6 billion. Gross margin was 39.4 percent.

So, Apple expects the growth to continue.