Apple Reports Earnings Today. What to Expect.

Apple reports financial results for the September quarter after the close of trading on Thursday, and all eyes will be on the progress of the company’s recently launched iPhone 15 smartphones. What the Street most wants from Apple is a reason for optimism that it can meaningfully break out of its recent malaise. Analysts expect revenues to decline from the year-ago level for a fourth straight quarter.

Morgan Stanley analyst Erik Woodring wrote in a research note previewing the quarter that while September quarter results could beat estimates, there is a risk that December quarter commentary could be below consensus, “creating a tactically cautious setup.

On the company’s last earnings call, CFO Luca Maestri said that September quarter revenue would show a decline comparable to the 1% dip in the June quarter. He also said that iPhone and Services revenue would accelerate from the June quarter, but that both Mac and iPad sales would be down double-digits from the year ago-quarter. Maestri projected gross margin in the quarter of 44% to 45%.

For the September 2023 fiscal year, the consensus calls for revenue of $382.9 billion, down 3% from FY 2022, with profits of $6.06 a share, down from $6.11 last year.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Apple Earnings Preview: Quality Still High, but Stock Hinges on Q1 2024 GuidanceStocks Analysis by Brian Gilmartin covering: Apple Inc, Apple Inc DRC, Apple Inc BDR, BNP PARIBAS ARBITRAGE ISSUANCE BV Put 201.27 USD APPLE COMPUTER INC. 31Dec99. Read Brian Gilmartin's latest article on Investing.com
Source: Investingcom - 🏆 450. / 53 Read more »

Stock futures are little changed as attention turns from Fed to latest earnings reports: Live updatesThe Federal Reserve kept rates at the conclusion of its meeting Wednesday, fueling a rally for stocks to start November.
Source: NBCDFW - 🏆 288. / 63 Read more »

Stock futures are little changed as attention turns from Fed to latest earnings reports: Live updatesThe Federal Reserve kept rates at the conclusion of its meeting Wednesday, fueling a rally for stocks to start November.
Source: CNBC - 🏆 12. / 72 Read more »

Peloton Reports Earnings on Thursday. What to Expect.Connected-fitness firm Peloton is scheduled to report fiscal-first-quarter earnings before the market opens Thursday.
Source: MarketWatch - 🏆 3. / 97 Read more »

Apple earnings are on deck, and Wall Street isn't feeling so cheeryAnalysts have some concerns about the holiday-quarter outlook in light of economic unease and China pressures
Source: MarketWatch - 🏆 3. / 97 Read more »

S&P 500 futures tick higher as attention turns from Fed to latest earnings reports: Live updatesThe Federal Reserve kept rates at the conclusion of its meeting Wednesday, fueling a rally for stocks to start November.
Source: CNBC - 🏆 12. / 72 Read more »