Apple CEO Tim Cook next to Apple’s new Vision Pro virtual reality headset, at the Apple Park campus in Cupertino, California, on June 5, 2023.
Josh Edelson | Afp | Getty Images
Apple is expected to post its third consecutive year-over-year decline in quarterly revenue on Thursday, according to FactSet estimates, with declines in iPhone, iPad, Wearables, and Mac sales. However, analysts expect the company’s profitable services division to be a bright spot, rising over 5%.
But more important than Apple’s results for the quarter — which would be in line with the company’s previously disclosed data points — is what it might say about how it sees demand for its products in the September quarter. Apple’s forward-looking statements may also give clues to the state of global economies, and whether consumer confidence is wavering or strengthening.
Apple hasn’t provided guidance since 2020, citing uncertainty, but it gives investors data points that they can use to figure out whether Apple expects sales to rise or fall.
Here’s what Wall Street is expecting, per Refinitiv estimates:
- Revenue: $81.7 billion
- EPS: $1.19 per share
- iPhone revenue: $39.9 billion
- iPad revenue: $6.4 billion
- Mac revenue: $6.6 billion
- Other products: $8.4 billion
- Services: $20.8 billion
