We’re less than two hours away from what promises to be an historic Apple earnings report and conference call with Apple having closed all of their retail stores outside of Greater China since mid-March due to the COVID-19 pandemic.
Apple reports FQ2 results after the bell today with analysts expecting about $54.64B in revenue and $2.26 EPS. For Q3, the Street sees $51.61B in revenue, a 39.2% gross margin, and $9.26B in operating expenses.
Share repurchases: Evercore and Bernstein predict that Apple will add $75-100B to its share repurchase program, which would go against companies like Intel that have pulled buybacks during the macro uncertainties.
Consensus estimate breakdown: iPhone, $28.39B; iPad, $4.28B; Mac, $5.26B; Wearables, Home and Accessories, $7B; Services, $12.85B.
MacDailyNews Note: Apple is slated to report Q220 earnings results after market close on Thursday, April 30, 2020. We’ll have the result right around 1:30pm PDT / 4:30pm EDT. Apple’s conference call to discuss Q220 results is scheduled to start right after that at 2:00pm PDT / 5:00pm EDT. We’ll cover the conference call with live notes as usual, too. Just check our home page around 1:45pm PDT / 4:45pm EDT on Thursday, April 30, 2020 for that link.