Apple's yearly developer conference should see iOS 8, OS X 10.10, and likely some hardware.
Roundup of Analyst Expectations Ahead of Q2 2013 Earnings Call
This is one of the most important earnings calls of Apple CEO Tim Cook's tenure as CEO. Apple's stock price is down significantly from its highs of last year, and investors are concerned about Apple's growth prospects across both existing and new product lines.
Typically, the amateur analysts expect significantly higher revenue and earnings than the professionals, but Elmer-Dewitt notes the gap is less than usual this time. The independent consensus has Apple just beating its guidance, while the pro's are expecting Apple to hit near the middle of its range.
The pros, as usual, are more cautious than the independents -- but not that much. The gap between the two group's average estimates (summarized above) as as close as I've ever seen them, with the amateurs calling for revenues only 1.3% higher than professionals.In the first quarter, the company earned $13.1 billion in profit on revenue of $54.5 billion.
Last quarter Apple changed how it provides guidance, choosing to offer a range of guidance for what the company believes it can achieve, rather than a point prediction. Apple provided guidance for the second quarter for revenue of between $41 and $43 billion and gross margin between 37.5% and 38.5%.
Apple will announce its earnings for the second fiscal quarter of 2013 (first calendar quarter of 2012) and host a conference call regarding the release this afternoon at 5:00 PM Eastern / 2:00 PM Pacific. The earnings release itself typically comes in around 4:30 PM Eastern. MacRumors will have live coverage of the proceedings.