Apple will report fiscal Q2 2020 earnings results after the close of trading on Thursday.
The current Wall Street analyst consensus revenue forecast is $54.6 billion, but the estimates run a wide gamut, with the low end of the Street range at $45.6 billion. The consensus profit estimate is $2.27 a share, but again, the range is gaping, running from $1.73 to $2.73 a share.
The company is widely expected to announce a new stock-repurchase plan. Apple has promised to eventually reach a zero net cash position; the company had about $100 billion in net cash at the end of the December quarter. Expectations are for a buyback in the $50 billion to $100 billion range, and potentially a dividend hike.
Will Apple provide June quarter guidance? Given how low expectations are, it would be hard to shock investors, but the lack of any guidance would nonetheless disappoint. For the June quarter, the current consensus is $51.78 billion in revenue, with profits of $2.10 a share, but those are more guesstimates than estimates…
There have also been widespread reports of strong demand for laptops for remote workers and students. Investors will want to know how Macbook and iPad demand have held up in the downturn.
MacDailyNews Note: Apple is slated to report Q220 earnings results after market close on Thursday, April 30, 2020. We’ll have them for you as always 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.