Night mode is an automatic setting which takes advantage of the new wide-angle camera that's in the iPhone 11 and 11 Pro models. It's equipped with a larger sensor that is able to let in more light, allowing for brighter photos when the light is low.
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Apple Earnings Preview: All Eyes on Next Quarter's Guidance Ahead of New iPhones, Apple Card, and Apple TV+
The quarter began March 31, 2019 and ran through June 29, 2019, according to Apple's fiscal year accounting calendar.
Apple's guidance for the quarter from April 30:
- revenue: $52.5 billion-$54.5 billion
- gross margin: 37-38 percent
- op. ex.: $8.7 billion-$8.8 billion
- other income/expense: $250 million
- tax rate: approximately 16.5 percent
- 2014: $37.4 billion
- 2015: $49.6 billion
- 2016: $42.4 billion
- 2017: $45.4 billion
- 2018: $53.3 billion
- 2019: $52.5+ billion
Key Facts and What to Look For
- iPhone revenue of $26.5 billion, according to a Bloomberg average.
- Product launches in the third quarter: 13-inch and 15-inch MacBook Pro refresh on May 21 (excluding entry-level 13-inch model, which was updated in July) and seventh-generation iPod touch on May 28.
- Apple's guidance for its fourth fiscal quarter, which typically encompasses the launch of at least some new iPhone models in mid-to-late September. Wall Street expects fourth quarter revenue to be $61 billion, down around three percent year-over-year, according to Bloomberg.
- Apple's revenue in Greater China and any potential commentary regarding the U.S.-China trade war. Apple reported revenue of $9.5 billion in Greater China in the year-ago quarter, which was 19 percent growth.
- Apple's services revenue reached an all-time high of $11.45 billion in the second quarter, and investors will be looking for continued growth from the launch of Apple News+ six days before the third quarter began. The upcoming launches of the Apple Card later this summer and Apple Arcade and Apple TV+ in the fall could also be at least partially baked into Apple's fourth quarter guidance depending on exact launch dates.
- Apple's "Wearables, Home, and Accessories" category also remains key. Last quarter, Apple said the category was the size of a Fortune 200 company, buoyed by the success of the Apple Watch and AirPods.