“Apple Inc. is scheduled to report results for its fiscal first quarter, which ended Dec. 30, after the market closes Thursday,” Tripp Mickle reports for The Wall Street Journal. ” Earnings of $3.86 a share is the consensus of analysts surveyed by Thomson Reuters, compared with $3.36 a share a year ago.”

“Revenue of $87.06 billion is expected by analysts, compared with $78.4 billion reported a year earlier,” Mickle reports. “In November, Apple said it expected revenue to be between $84 billion and $87 billion in the quarter.”

“Apple is projected to report a 1.5% increase in iPhone shipments, according to analysts surveyed by FactSet, but the $1,000 iPhone X, released on Nov. 3, is expected to lift the average selling price of the device 9% to $755. Those higher prices are expected to lift iPhone revenue 10% to $60 billion in the period.,” Mickle reports. “Expect analysts to ask for more clarity on Apple’s plans now that it no longer needs to hold cash overseas to avoid paying higher U.S. taxes. Also, look for the company to update its new effective tax rate. Morgan Stanley expects Apple to benefit from a lower tax rate of approximately 15.9% due to tax reform, adding $1.13 to its current fiscal-year earnings per share.”

Read more in the full article here.

MacDailyNews Notee: On November 2, 2017, Apple provided the following guidance for Q118:

• revenue between $84 billion and $87 billion
• gross margin between 38 percent and 38.5 percent
• operating expenses between $7.65 billion and $7.75 billion
• other income/(expense) of $600 million
• tax rate of 25.5 percent

SEE ALSO:
Apple to release Q118 earnings, webcast live conference call on February 1st – January 8, 2018