“Apple Inc. earnings this week will confirm what most investors have finally accepted: The iPhone X didn’t live up to the hype,” Mark Gurman reports for Bloomberg. “The results should also provide clues on the company’s next strategy for its most-important product.”
MacDailyNews Take: The iPhone X certainly did live up to the hype, and then some. It’s the best iPhone, by far, that we’ve ever owned. The jury on iPhone X sales living up the the hype remains out.
“Chief Executive Officer Tim Cook and other Apple executives have a “major prove-me” period ahead, beginning with a new sales forecast and a conference call with analysts on Tuesday, GBH Insights analyst Daniel Ives said,” Gurman reports. “He and other analysts cut their iPhone sales estimates, and Apple stock is down almost 8 percent in the past two weeks.”
“On Tuesday, Apple is expected to report fiscal second-quarter iPhone unit sales grew just over 2 percent from a year earlier,” Gurman reports. “For the fiscal third quarter, unit sales will be down 5 percent year-over-year, according to average analyst forecasts compiled by Bloomberg.”
MacDailyNews Take: You know, because analysts’ consensus estimates about anything to do with Apple as oh-so-accurate.
Here are some of the key numbers to watch on Tuesday:
• Analysts are looking for revenue of $61 billion in the fiscal second quarter, or 15 percent year-over-year growth, according to data compiled by Bloomberg. Earlier this year, • Apple forecast sales between $60 billion and $62 billion for the period.
• Fiscal second-quarter iPhone unit sales are expected to be 51.9 million, up from 50.8 million a year earlier, according to average analyst forecasts compiled by Bloomberg.
• For the fiscal third quarter, analysts see 39 million iPhones sold, on average, down from 41 million in the same period of 2017.
Read more in the full article here.
MacDailyNews Note: As always, we’ll bring your the results as soon as they are available (simply check our home page at 4:30pm EDT on May 1st).
We plan to cover the conference call with live notes as usual. That link will appear on our home page around 4:45pm EDT on May 1st.
SEE ALSO:
Apple to release Q218 earnings, webcast live conference call on May 1st – April 3, 2018