Apple shares are up 44% since January 3 this year.Apple sales technicians confer in front of Apple product advertisements in the World Trade Center in New York City.will report earnings for its March quarter Tuesday after the bell.
Apple stock has been on a tear. Shares are up 44% since January 3, adding over $290 billion to Apple's market capitalization. Yet Apple's revenue is expected to be down from the same time last year, and iPhone sales are expected to shrink as well.: $2.36, according to Refinitiv consensus estimates: $31.03 billion, according to Refinitiv consensus estimatesProjected Q3 revenueIn January, Apple cut its first-quarter forecast, blaming slow iPhone sales in China.
"Looking at our model and our projections for iPhone sales, as it pertains to the March quarter, we're not looking for anything magical on iPhone or on China," D.A. Davidson analyst Tom Forte previouslyBut Apple has recently been signaling to investors that iPhone sales aren't the critical number to watch. Apple instead is highlighting its services revenue, which includes products like iCloud, Apple Music, AppleCare warranties and others.
The March quarter is also when Apple typically updates its capital-return plans. Morgan Stanley expects Apple to announce a 10% dividend raise and at least a $50 billion increase into the authorized buyback fund.
Dividend in May 08. Good. Will be pop tomorrow
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