Amid the ongoing COVID-19 pandemic and widespread economic shutdowns, Apple is scheduled to report fiscal Q3 2020 earnings after Thursday’s market close.
The iPhone maker is due to report its fiscal third-quarter results Thursday, when Wall Street analysts on average expect it to
tally $2.04 per share in profits on $52.1 billion in sales, according to surveys published by Yahoo Finance. That’s below the $2.18 per share Apple pulled in last year, on $53.8 billion in sales.Regardless of Apple’s financial report for the three months that ended in June, investors are likely to give the company a break, considering governments worldwide effectively shut down their economies… Apple watchers instead will be listening carefully to CEO Tim Cook as he discusses the company’s results on the after-hours conference call with analysts, during which he’ll likely be asked questions about the impact the coronavirus may have on the rest of the year.
Whatever signs Apple gives about how it expects to fare the rest of the year will be taken as a bellwether across the tech industry, which, like the rest of the world, is learning to cope with the widening impacts from the coronavirus.
MacDailyNews Take: Once again, regardless of COVID-19, Apple’s earnings report is likely to move the entire market.