Read in app
Apple’s fiscal third-quarter results are Tim Cook’s last as CEO, and he’s going out on a high note.
Read more Consultants have found an unlikely new career path: policing AI
As the rest of the Magnificent Seven companies struggle with questions about what all of their AI capex is actually for, Apple has largely sidestepped the debate this year by focusing on their core offerings: consumer hardware.
The stock is the best performer in the elite group of mega-cap tech names this year, up 25%. The company topped a $5 trillion market cap for the first time earlier this week before falling slightly.
Apple’s outlook has some challenges, though.
Cook said earlier this year that Apple was raising prices to offset the supply crunch in memory hardware, and the move could impact demand for new devices. The iPhone was left out of Apple’s recent price hikes, but Apple is widely expected to boost prices in September with the new lineup as it faces cost pressures on its famously high gross margin. The company could provide signal on possible iPhone price hikes on the earnings call.
Read more Sell it or keep it? Google and Meta’s AI compute quandary
Investors are also going to want to hear at least some update about the company’s AI plans, even though Apple is not quite a capex story like other tech giants.
Apple will publish its results around 4:30 p.m. ET after the closing bell. The call with analysts will begin around 5 p.m. ET.
Read more Meta and Microsoft’s AI spending: a tale of two earnings reports
Max Adams
Markets editor
Wall Street expects Q3 revenue of $108.85 billion, EPS of $1.89
Third quarter
- Revenue estimate $108.85 billion (Bloomberg Consensus)
- Products revenue estimate $77.25 billion
- IPhone revenue estimate $53.6 billion
- Mac revenue estimate $8.62 billion
- IPad revenue estimate $6.89 billion
- Wearables, home and accessories estimate $7.87 billion
- Services revenue estimate $31.36 billion
- Greater China rev. estimate $19.58 billion
- Americas rev. estimate $45.42 billion
- Europe revenue estimate $27.58 billion
- Japan revenue estimate $7.49 billion
- Rest of Asia Pacific revenue estimate $8.71 billion
- EPS estimate $1.89
- Total operating expenses estimate $18.96 billion
- Research and development operating expenses estimate $11.57
billion - SG&A operating expense estimate $7.38 billion
- Gross margin estimate $52.13 billion
- Cash and cash equivalents estimate $53.15 billion
- Cost of sales estimate $56.45 billion
- Total current assets estimate $153.38 billion
Total current liabilities estimate $138.32 billion
Fourth quarter
Third quarter
- Revenue estimate $108.85 billion (Bloomberg Consensus)
- Products revenue estimate $77.25 billion
- IPhone revenue estimate $53.6 billion
- Mac revenue estimate $8.62 billion
- IPad revenue estimate $6.89 billion
- Wearables, home and accessories estimate $7.87 billion
- Services revenue estimate $31.36 billion
- Greater China rev. estimate $19.58 billion
- Americas rev. estimate $45.42 billion
- Europe revenue estimate $27.58 billion
- Japan revenue estimate $7.49 billion
- Rest of Asia Pacific revenue estimate $8.71 billion
- EPS estimate $1.89
- Total operating expenses estimate $18.96 billion
- Research and development operating expenses estimate $11.57
billion - SG&A operating expense estimate $7.38 billion
- Gross margin estimate $52.13 billion
- Cash and cash equivalents estimate $53.15 billion
- Cost of sales estimate $56.45 billion
- Total current assets estimate $153.38 billion
Total current liabilities estimate $138.32 billion
Fourth quarter
- Capital expenditure estimate $3.56 billion
- Operating expense estimate $19.14 billion
Year
- Capital expenditure estimate $12.33 billion
Source: Bloomberg
About the Author
