Apple is expected to report its third consecutive quarterly revenue decline on Thursday. However, investors will be more interested in how Apple sees the current quarter, as well as its guidance for the September quarter. “Management’s September quarter will be what matters most,” said a Morgan Stanley analyst in July.
Wall Street expects $81.7 billion in sales, which would be down about 2.3% from last year.
Apple’s stock is up over 51% so far in 2023, hitting all-time highs. Investors see it as a safe haven with strong cash flow, despite worries about slowing demand for consumer goods, including PCs and smartphones.
Analysts will also want to hear about how the current quarter, which ends in September, is shaking out. Apple hasn’t given guidance since 2020, citing uncertainty, but it provides investors with some data points that they can use to determine whether Apple sees overall sales growing or shrinking.
“What will matter most will be management’s September quarter,” wrote Morgan Stanley analyst Erik Woodring in July, adding that he expects Apple to guide to year-over-year revenue growth again.
MacDailyNewsNote: Here’s are the Wall Street analysts’ consensus expectations for Apple’s fiscal Q3 2023:
• Revenue: $81.7 billion
• EPS: $1.19 per share
• iPhone revenue: $40.2 billion
• iPad revenue: $6.4 billion
• Mac revenue: $6.3 billion
• Other products: $8.3 billion
• Services: $20.7 billion
As always, we’ll have Apple’s results on August 3rd right around 1:30 p.m. PT / 4:30 p.m. ET. followed by live notes from Apple’s conference call beginning at 2:00 p.m. PT / 5:00 p.m. ET.
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