Apple is set to report its Q321 earnings after the closing bell on Tuesday, and analysts predict record quarterly revenue and continued strong iPhone sales amidst what many see as a multi-year iPhone supercycle driven by 5G.
Here’s what Wall Street is expecting from Apple, as compiled by Bloomberg, versus how it performed in the same quarter last year.
• Revenue: $73.8 billion expected versus $59.7 billion in Q3 2020
• Earnings per share: $1.01 expected versus $2.58 in Q3 2020
• iPhone revenue: $34.5 billion expected versus $26.4 billion in Q3 2020
• Services revenue: $16.3 billion expected versus $13.2 billion in Q3 2020
MacDailyNews Note: The year ago EPS (Q320) was $0.64 when adjusted for the 4-for-1 split that occurred on August 28, 2020.
According to analysts, the iPhone 12 will prove to be a continued boon for Apple in Q3 2021 as demand for the smartphone soars on the back of its inclusion of 5G capabilities. The 12 has been a major seller for Apple, driving impressive growth in sales for the company at a time when smartphone sales were declining.
BofA’s Wamsi Mohan estimates that Apple will report sales of 46 million iPhones, compared to Wall Street estimates of 43 million phones, for an 18% year-over-year increase in sales.
Wedbush’s Dan Ives offered similar sentiment in his analyst note, saying that consensus estimates fall short of reality.
MacDailyNews Take: Apple is set to Beat The Street!
As always, we will have the results for you as soon as they are released, right around 1:30pm PDT / 4:30pm EDT. Just check our homepage on that date at that time.
The company will also conduct a conference call with analysts to discuss third fiscal quarter results is scheduled for Tuesday, July 27, 2021 at 2:00pm PDT / 5:00pm EDT. We will also cover the Apple Q321 conference call with live notes. Visit check our homepage on that date around 1:45 pm PDT / 4:45 pm EDT for the link.