The time has come! On April 28, after the closing bell, Apple (AAPL) – Get the Apple Inc. will release results for the second fiscal quarter. The Apple Maven will follow the event in real time, via a live blog. To skip the Earnings Preview intro and recap, scroll down to “Live Blogging Starts Here.”
Our coverage begins shortly after 4 p.m. EST or 1 p.m. Pacific. Expect the press release to go out around 1:30 p.m. PST and the earnings call to begin thirty minutes later. The meeting is expected to last approximately one hour, with Q&A ending around 3:00 p.m. PST.
(Learn more about Apple Maven: Apple Pre-Earnings: iPhone should be a Q2 killer
We’ve been forecasting Apple’s revenue for several days. Here is a very brief summary of what awaits you tonight:
- Wall Street seems to agree that it will be a strong quarter for Apple. Consensus estimates for revenue and EPS growth are 5% and 2%, respectively – but I think the Cupertino company will do better than that.
- The iPhone is likely to impress thanks to strong demand for the iPhone 13 and, possibly, the newly launched SE.
- The Mac will likely do well too, alongside the services segment, as the installed base and usage of devices continues to grow. A shift in revenue mix towards services should also be positive for margins.
- Meanwhile, iPad and wearable devices could be the weak spots, due to supply chain challenges.
- I doubt that the management team offers firm advice, especially on revenue. But pay close attention to the story of Apple’s performance over the next few months as macroeconomic challenges (eg inflation, economic slowdown in some parts of the world) continue to mount.
- Apple stock enters the day with earnings 14% below the all-time high. Could recent share price weakness set the stock up for a rally, given decent results?
(Learn more about Apple Maven: Apple Pre-Earnings: Could the iPad or portable devices steal the show?)
Live blogging starts here!
4:00 am PST: Thanks for joining us today! Live coverage begins shortly after the closing bell.