“Guggenheim Partners analyst Robert Cihra – who expects solid iPhone sales (43 million units, up 4% year-over-year) and strong Services performance ($9.3 billion, up 28% year-over-year) – raised his quarterly revenue estimate to $52.9 billion from $52.4 billion,” Jon Swartz reports for Barron’s. “The Cupertino, Calif.-based company has offered revenue guidance of $51.5 billion to $53.5 billion for the quarter, and operating expenses between $7.7 billion and $7.8 billion.”

“Apple is expected to report earnings per share of $2.19, according to a consensus of 11 analysts surveyed by Zacks Investment Research,” Swartz reports. “In the same quarter a year ago, the company reported EPS of $1.67.”

“The results aren’t likely to surprise Wall Street,” Swartz reports. “Apple’s third fiscal quarter is typically its most predictable as consumers and analysts await a new crop of iPhones that are routinely announced in September.”

Read more in the full article here.

MacDailyNews Take: Services is Apple’s perpetual motion machine.

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Apple’s earnings: New all-time high coming? – July 30, 2018
Analyst: 2019 iPhone demand the real story in Apple’s Q318 earnings call – July 30, 2018