Apple will report its third quarter fiscal earnings on Tuesday, July 26. We already know that the low guidance for this specific quarter sent stock price down shortly after the Q2 earnings. As analysts are preparing to give their best shot on how Apple performed during the June quarter, Business Insider has collected a few forecast gems from Wall Street analysts for your reading pleasure.
Overall, Wall Street expects Apple to report $42.11 billion in revenue according to Yahoo Finance. We’ve picked up a few of the insights collected by BI. Maynard Um, Munjal Shah, and Jason Ng of Wells Fargo say that since this quarter’s earnings is surrounded by low expectations, any positive news Apple reports could push its stock price up.
BMO analyst Tim Long went on a trip to Asia (possibly for a usual “supply chain check”) which prompted him to raise iPhone unit numbers for the June and September quarter to 42 and 44 million, respectively.
Katy Huberty, Jerry Liu, and Elizabeth Elliott of Morgan Stanley say Apple will report “in-line” results, adding that iPhone growth “likely troughed” already, but there is a chance for growth later this year and next year.
“Investors will increasingly look forward to the 2017 iPhone cycle. We see several potentially revolutionary features, especially in display and battery life, that Apple could launch in just over a year from now. Similar to the first large screen iPhone, the 6 in 2014, investors anticipate a meaningful product launch at least a year ahead of time.
“As iPhone growth troughs in the June quarter and as gross margin expectations are reset this earnings season, we think Apple sentiment should improve going forward.”
You can read more analyst expectations and insights on Business Insider.