Apple to report earnings as investors worry about ‘mixed' iPhone demand

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It’s the end of Apple’s fiscal year, and the first quarter with some sales from the September launch of the iPhone 16.

Apple's Thursday earnings report is the last of the company's fiscal year, and it's the first quarter with some sales from the September launch of the iPhone 16.

The most critical item will be what Apple signals to investors about its December quarter, which is its largest seasonal sales period of the year. That will set the tone about the current iPhone sales cycle and whether it represents a chance for revenue growth driven by "While iPhone sales will be on everybody's mind when AAPL reports, the stream of data points indicates that there is little reason to believe an upgrade cycle has started," wrote D.A. Davidson analyst Gil Luria in a note this week."That should be expected, as Apple Intelligence features U.S. carriers, including AT&T, Verizon and T-Mobile, have also seemed unexcited about an Apple Intelligence upgrade cycle.

"We believe even with new iPhone launch, Apple still faces pressure from Huawei, and we don't expect the competition to ease any time soon," Citi analyst Malif Atik wrote in a note this week. Investors will also look closely at Apple's"wearables" category, which includes its Apple Watch and AirPods headphones. Both of those product lines saw new models hit store shelves during the quarter, including Apple Watches with bigger screens and low-end AirPods with noise canceling.

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