Ahead of the Apple Q3 earnings report next Thursday, shares have climbed about 73% since mid-March amid growing optimism after plunging earlier this year on initial market concern about the COVID-19 pandemic and resultant shutdowns.
Investor confidence was fueled further when Apple beat expectations in its quarterly report in late April.
Investors will be looking for more signs that the company can withstand the COVID-19-induced economic shock when Apple reports earnings on July 30, 2020 for Q3 FY 2020.
They estimate a 10.1% decline in EPS and a 3.7% decline in revenue. This would mark the largest EPS decline since the fourth quarter of FY 2016, and the first drop in revenue since Q2 FY 2019.
MacDailyNews Note: Apple will report fiscal Q3 2020 earnings for the three months ending in June on Thursday, July 30th after market close (we’ll have Apple’s results for you that day right around 4:30pm EDT / 1:3pm PDT, as usual).