Apple is set to announce its financial earnings results for the second quarter of the 2016 fiscal year at 1:30 p.m. Pacific, and the consensus among analysts is that the iPhone maker will report its first quarterly revenue decline in over a decade.
Wall Street analysts project that Apple will report revenue of around $52 billion, or nearly a 10-percent decline compared to the year-ago quarter. Today's earnings results are based on the three-month period between December 27, 2015 and March 26, 2016.
Apple itself projected quarterly revenue of between $50 and $53 billion, compared to $58 billion in the year-ago quarter, possibly signaling the end of over 50 consecutive quarters of year-over-year revenue growth dating back to 2003.
Tim Cook, CEO, already cautioned investors that iPhone sales will likely decline in the second fiscal quarter. That decline will be realized if Apple sells fewer than 61.2 million iPhones this quarter, which appears likely given most analysts expect sales to hover around the 50 to 51 million mark.
Apple's quarterly revenue between 2005 and 2016 (Source: Statista)
iPhone SE sales will not be included in that total, as the lower-priced smartphone launched on March 31, five days after the quarter ended.
MacRumors will be providing live blog coverage of Apple's earnings conference call with CEO Tim Cook and CFO Luca Maestri at 2:00 p.m. Pacific.
AAPL is trading slightly lower on the NASDAQ at around the $104 mark in pre-market trading ahead of today's announcement.
Good. Hopefully revenue decline might encourage them to update some of their products. Once they stop caring about squeezing as many profits from 16GB storage phones and aged tech in their computers, they might consider giving people a bit of value for money.
If they know they'll have revenue decline regardless of what they do, they might stop penny pinching.
I feel that Tim Cook's time as caretaker CEO is done.
He's guided Apple to outstanding profits, but has not shown that he can take Apple to new heights in the long-term. The Apple Watch is not a worthy successor to the Mac, the iPhone and the iPad, in my opinion.
In the five years that he has been CEO, he has never shown the passion for Apple products that Steve Jobs did. As a result, the public has become less enthusiastic also.
Finally, the area that Apple most needs attention is services. Eddy Cue is not the right man to lead this area, to put it mildly. Apple needs a major culture change to instil the right ethos for making high quality services. It goes against their traditional culture in a fundamental way, and requires strong leadership to overcome resistance in Apple. Tim Cook is not able to give this leadership, nor does he have the headhunting chops to find the right person; he is too nice, and doesn't have the sharpness in this field.
Apple is a victim of its own success. The iPhone 6/6 Plus in 2014 filled a lot of pent up demand. It's not just a tough compare, it's an impossible compare. Wall Street and bloggers alike are interpretting this as the end for the iPhone. That couldn't be further from the truth.
Very good. Their last September event was incredibly lacklustre, and especially last March's event that mainly revolved around left overs. (Things that could've been released last year but weren't to avoid cannibalising their own products)
Good. Maybe revenue decline might encourage them to update some of their products. Once they stop caring about squeezing as many profits from 16GB storage phones and aged tech in their computers, they might consider giving people a bit of value for money.
This decline has nothing to do with anything you just said. [doublepost=1461675021][/doublepost]
I feel that Tim Cook's time as caretaker CEO is done.
He's guided Apple to outstanding profits, but has not shown that he can take Apple to new heights in the long-term. The Apple Watch is not a worthy successor to the Mac, the iPhone and the iPad, in my opinion.
It's time for new blood.
This decline would have happened even if Steve Jobs were still alive and running Apple. No product can grow forever.
Google and the three major U.S. carriers, including Verizon, AT&T, and T-Mobile, will all support a new communications protocol on Android smartphones starting in 2022, a move that puts pressure on Apple to adopt a new cross-platform messaging standard and may present a challenge to iMessage.
Verizon recently announced that it is planning to adopt Messages by Google as its default messaging...
We're just a few months away from when Apple is expected to reveal the 2021 iPhone, dubbed the "iPhone 13." In preparation for its launch, it has been pulling in shipments of different components needed to produce the new iPhones, according to a report from DigiTimes.
In years past, Apple released its latest iPhone lineup, alongside a new Apple Watch, during a September event at Apple Park....
We've seen a lot of teasers about the Beats Studio Buds over the past month since they first showed up in Apple's beta software updates, and today they're finally official. The Beats Studio Buds are available to order today in red, white, and black ahead of a June 24 ship date, and they're priced at $149.99.
The Studio Buds are the first Beats-branded earbuds to truly compete with AirPods...
Friday September 3, 2021 11:13 am PDT by Juli Clover
For this week's giveaway, we've teamed up with MAXOAK to offer MacRumors readers a chance to win a Bluetti portable power station and an accompanying solar panel. Bluetti makes a range of portable power station options that are useful for camping, emergencies, power outages, off-grid living, and similar situations.
The Bluetti EB70 is a solid middle of the road option that offers 716Wh and...
Apple has published a FAQ titled "Expanded Protections for Children" which aims to allay users' privacy concerns about the new CSAM detection in iCloud Photos and communication safety for Messages features that the company announced last week. "Since we announced these features, many stakeholders including privacy organizations and child safety organizations have expressed their support of...
Wednesday March 25, 2020 9:53 am PDT by Joe Rossignol
Apple has shared a new support document that indicates kernel extensions — which it calls "legacy system extensions" — will not be compatible with a future version of macOS because they "aren't as secure or reliable as modern alternatives."System extensions are a category of software that works in the background to extend the functionality of your Mac. Some apps install kernel extensions, which...
See update at bottom of article Spotify this week confirmed that its plans to add AirPlay 2 support to its iOS app have been placed on indefinite hiatus.
In an online discussion forum post, a Spotify representative said the streaming music service had been working on supporting AirPlay 2, but the company has paused the efforts "for now" due to "audio driver compatibility issues." The...
Wednesday February 3, 2021 3:09 pm PST by Juli Clover
YouTube is planning to stop supporting its YouTube app on the third-generation Apple TV models, where YouTube has long been available as a channel option.
A 9to5Mac reader received a message about the upcoming app discontinuation, which is set to take place in March.Starting early March, the YouTube app will no longer be available on Apple TV (3rd generation). You can still watch YouTube on...
Wednesday June 30, 2021 12:19 pm PDT by Juli Clover
Apple recently dropped the $19.99 fee for OS X Lion and Mountain Lion, making the older Mac updates free to download, reports Macworld.
Apple has kept OS X 10.7 Lion and OS X 10.8 Mountain Lion available for customers who have machines limited to the older software, but until recently, Apple was charging $19.99 to get download codes for the updates.
As of last week, these updates no...
Wednesday September 1, 2021 1:54 am PDT by Tim Hardwick
Google is rumored to be working on a new wireless charging stand that could deliver 23W of charging power to its upcoming Pixel 6 and Pixel 6 Pro phones, according to a leaked inventory image published by Android Police.
Image via Android Police. If true, that would beat the iPhone 12's maximum 15W wireless charging speed (or 12W on iPhone 12 mini) using Apple's MagSafe charger, and...
Apple is set to announce its financial earnings results for the second quarter of the 2016 fiscal year at 1:30 p.m. Pacific, and the consensus among analysts is that the iPhone maker will report its first quarterly revenue decline in over a decade.
Top Rated Comments
If they know they'll have revenue decline regardless of what they do, they might stop penny pinching.
He's guided Apple to outstanding profits, but has not shown that he can take Apple to new heights in the long-term. The Apple Watch is not a worthy successor to the Mac, the iPhone and the iPad, in my opinion.
In the five years that he has been CEO, he has never shown the passion for Apple products that Steve Jobs did. As a result, the public has become less enthusiastic also.
Finally, the area that Apple most needs attention is services. Eddy Cue is not the right man to lead this area, to put it mildly. Apple needs a major culture change to instil the right ethos for making high quality services. It goes against their traditional culture in a fundamental way, and requires strong leadership to overcome resistance in Apple. Tim Cook is not able to give this leadership, nor does he have the headhunting chops to find the right person; he is too nice, and doesn't have the sharpness in this field.
It's time for new blood.
They need a drastic attitudinal shift.
[doublepost=1461675021][/doublepost]This decline would have happened even if Steve Jobs were still alive and running Apple. No product can grow forever.