“Apple is set to release third-quarter fiscal 2018 earnings on July 31,” Zacks Equity Research writes for Yahoo Finance. “As usual with the company, iPhone shipment growth will hog the limelight, in this seasonally slow quarter. However, performance of the service business and wearables will also be eagerly watched by investors in order to get a measure of the success of the company’s revenue diversification strategy.”

“Apple beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average positive surprise being 5.10%. The company’s second-quarter fiscal 2018 earnings of $2.73 per share and revenues of $61.14 billion beat the Zacks Consensus Estimate of $2.69 and $60.99 billion, respectively,” Zacks writes. “For third-quarter fiscal 2018, the Zacks Consensus Estimate for revenues is currently pegged at $52.37 billion, reflecting year-over-year growth of almost 15.3%. Moreover, the Zacks Consensus Estimate for earnings has remained steady at $2.19 over the last seven days, reflecting year-over-year growth of 31.1%.”

“For the third quarter, the Zacks Consensus Estimate for total iPhone units is pegged at 41.29 million,” Zacks writes. “The Zacks Consensus Estimate for revenues from iPhone is pegged at $28.65 billion.”

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MacDailyNews Note: Apple reports Q318 results on Tuesday, July 31, 2018, at market close. Check our homepage right around 1:30pm PDT / 4:30pm EDT next Tuesday for the results.