Apple set to report earnings after the bell

US News

Apple CEO Tim Cook attends the Allen & Company Sun Valley Conference on July 08, 2021 in Sun Valley, Idaho.
Kevin Dietsch | Getty Images

Apple reports fiscal third-quarter earnings after the bell on Tuesday.

Here’s what Wall Street is expecting, per Refinitiv estimates:

  • EPS: $1.01 estimated
  • Revenue: $73.30 billion estimated
  • iPhone revenue: $34.01 billion estimated
  • Services revenue: $16.33 billion estimated
  • Other Products revenue: $7.80 billion estimated
  • Mac revenue: $8.07 billion estimated
  • iPad revenue: $7.15 billion estimated
  • Gross margin: 41.9% estimated

Apple’s quarter that ends in June is typically the company’s slowest of the year, but the company has benefitted from work-at-home and remote schooling trends that have boosted sales of its iPads and Mac laptops.

Apple warned in its last earnings report its revenue could be $3 billion to $4 billion lower than it would have been due to component shortages that have been plaguing various industries throughout the pandemic.

Apple could also have a difficult quarter in China, one of its most important markets, as overall smartphone sales have been weak there, according to official government data.

Investors will also play close attention to Apple’s services business, a high-margin category that includes everything from iCloud subscriptions to AppleCare warranties and Apple’s App Store distribution platform.

As people go back to work and school, app downloads and sales could flag. But Apple’s services line item could continue to grown on the back of increased iCloud subscriptions and licensing, a category that includes Apple’s search deal with Google. Analysts estimate Google pays Apple billions of dollars per year to be the default search engine on Apple’s devices.

Apple is also likely to give some information about how well its new colorful iMac computers and high-end iPads are selling. Apple announced those new gadgets in April.

This story is developing. Check back for updates.

Products You May Like

Articles You May Like

The Mothers, by Arao Ameny
Stocks making the biggest moves premarket: Manchester United, Invesco, Take-Two and others
Fantasy Island Season 1 Episode 7 Review: The Romance & The Bromance
Rap artist Nicki Minaj faces backlash after tweeting inaccurate information about Covid vaccines
Could microscale concave interfaces help self-driving cars read road signs?

Leave a Reply

Your email address will not be published. Required fields are marked *