“Apple investors are bracing for what could be an unsightly earnings forecast,” Jon Swartz writes for Barron’s. “They have every right to be squeamish about the state of iPhone, which accounts for about 60% of Apple’s total revenue. Rumors are percolating that iPhone X is all but dead, and shipments of iPhone are lagging in the June quarter.”
MacDailyNews Take: Rumors.
“Apple reports second-quarter results on Tuesday — analysts expect earnings of $2.71 per share on revenue of $51.9 billion — but it is the third quarter that has their collective attention,” Swartz writes. “Katy Hubert, managing director of research at Morgan Stanley, last week reduced her iPhone shipment estimates in the June quarter from 40.5 million to 34 million. [Apple sold 41 million iPhones in the year-ago June quarter.]”
“The world’s most-valuable public company, at $833.3 billion, faces more than just iPhone headaches,” Swartz writes. “Apple Chief Executive Tim Cook met privately with President Trump last week. It’s a good bet they discussed at length escalating trade tensions between the U.S. and China, where many of Apple’s devices are made. ”
Read more in the full article here.
MacDailyNews Take: It’ll be very nice to have real numbers – facts as opposed to rumors – when Apple reports Q218 earnings data next week. As always, guidance will be a big key for short term share prices.
Apple to release Q218 earnings, webcast live conference call on May 1st – April 3, 2018