Apple's Earnings Report Today to Reveal COVID-19's Impact on iPhone Sales

Apple will report its financial results for the second quarter of its 2020 fiscal year at 1:30 p.m. Pacific Time today, providing a first look at how the company's sales have been affected by the global health crisis.

iphone trade in store
On February 17, Apple announced that it no longer expected to meet its March quarter revenue guidance due to COVID-19's impact on the iPhone supply chain and demand for its products in China. The virus has since become a global pandemic, with all Apple Stores outside of China and Korea remaining closed.

Apple's letter to shareholders at the time:

Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates about the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter…

Apple had forecasted revenue between $63 billion and $67 billion for the quarter, which ran December 29 through March 28. On average, analysts now expect that figure to be approximately $54.5 billion, down six percent from $58 billion in the year-ago quarter.

The second quarter encompassed the launch of new iPad Pro and MacBook Air models, which became available to order on March 18.

Apple CEO Tim Cook and Apple CFO Luca Maestri will review the financial results on a conference call at 2:00 p.m. Pacific Time, with a live stream on Apple's website. MacRumors will be providing detailed coverage of the remarks.

Popular Stories

iPhone 17 Pro and Air Feature

Two iPhone 17 Pro and iPhone Air Colors Appear to Scratch More Easily

Friday September 19, 2025 10:02 am PDT by
As reported by Bloomberg today, some of the new iPhone 17 Pro and iPhone Air models on display at Apple Stores today are already scratched and scuffed. French blog Consomac also reported on this topic. The scratches appear to be most prominent on models with darker finishes, including the iPhone 17 Pro and Pro Max in Deep Blue, and the iPhone Air in Space Black. Images Credit: Consoma ...
iOS 26

Everything New in iOS 26.1 Beta 1

Monday September 22, 2025 12:44 pm PDT by
Apple released the first beta of iOS 26.1 today, just a week after launching iOS 26. iOS 26.1 mainly adds new languages to Apple Intelligence, but there are a few other features that are worth knowing about. New Apple Intelligence Languages Apple Intelligence is now available in Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (Traditional), and Vietnamese. AirPo...
Apple Foldable Thumb

Foldable iPhone Like 'Two Titanium iPhone Airs' Joined at the Hinge

Monday September 22, 2025 2:16 am PDT by
Next year's rumored foldable iPhone will showcase an ultra-thin design resembling "two titanium iPhone Airs side-by-side," according to Bloomberg's Mark Gurman. Writing in the Q&A section of his latest Power On newsletter, Gurman says Apple's first foldable device will be "super thin and a design achievement," combining Apple's thinnest iPhone form factor with cutting-edge folding...
Apple Intelligence General Feature 2

iOS 26.1 Adds New Apple Intelligence Languages and Expands AirPods Live Translation

Monday September 22, 2025 11:15 am PDT by
With iOS 26.1, Apple Intelligence is gaining support for additional languages, including Danish, Dutch, Norwegian, Portuguese (Portugal), Swedish, Turkish, Chinese (Traditional), and Vietnamese. Apple announced plans to expand the languages that can be used with Apple Intelligence last year, and now the added language support is here. Apple Intelligence is now available in the following...
apple tv 4k new orange

Next Apple TV Expected to Launch This Year With These New Features

Monday September 22, 2025 10:00 am PDT by
The next Apple TV is expected to be released later this year, and a handful of new features and changes have been rumored for the device. Below, we recap what to expect from the next Apple TV, according to rumors. Likely Features N1 Chip With Wi-Fi 7 Last year, Bloomberg's Mark Gurman said the next Apple TV would be equipped with Apple's own combined Wi-Fi and Bluetooth chip, which is...
iPhone 17 Pro and Air N1 Feature

Some iPhone 17, iPhone 17 Pro, and iPhone Air Users Experiencing Intermittent Wi-Fi Issue

Monday September 22, 2025 8:44 am PDT by
Apple's latest iPhone models launched on Friday, and some early adopters of the devices are experiencing intermittent Wi-Fi issues. Affected customers say Wi-Fi connectivity periodically cuts out on the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air, with hundreds of comments about the issue posted across the MacRumors Forums, Reddit, and the Apple Support Community over the...
iOS 26

iOS 26.0.1 Coming Soon, Likely With iPhone Air and iPhone 17 Pro Fix

Thursday September 18, 2025 9:17 am PDT by
Apple is preparing to release iOS 26.0.1, according to a private account on X with a proven track record of sharing information about future iOS versions. The update will have a build number of 23A350, or similar, the account said. It is likely that iOS 26.0.1 will fix a camera-related bug on the new iPhone Air and iPhone 17 Pro models. In his iPhone Air review, CNN Underscored's Henry T. ...

Top Rated Comments

Dwalls90 Avatar
71 months ago
Given the context of the global health pandemic, a 6% reduction from the prior year doesn't seem too bad.
Score: 4 Votes (Like | Disagree)
Blackstick Avatar
71 months ago
Best move was to release the SE at that price point. There's massive economical uncertainty... I'm feeling fairly job secure, but we're ~7 weeks into this... it's hard to say how I'd feel if this goes on another 7 months.
Score: 4 Votes (Like | Disagree)
Mr. Dee Avatar
71 months ago

So glad we have your expert advice on what the economy will look like in the coming months. I have an existing device and I plan on upgrading. An iPhone isn’t a want it’s a need for most people and you’ll see a large portion of people purchasing the 12 when it’s launched. Per orders will be sold out in hours.
So glad we have your expert advice since you know what everybody wants and needs.
Score: 2 Votes (Like | Disagree)
H.E. Pennypacker Avatar
71 months ago

Right now, it’s about the long term if you are invested Apple. If you are in it for the short term, expect your stomach to churn. The next quarters and coming year are gonna be rough. Even when we are in full recovery, the PTSD that comes out of this, people are gonna hang on to their money tighter due to fear of this happening again. Certainly those with existing devices will be keeping them a lot longer.

My plan all along was to start upgrading to newer Apple devices in 2023.
So glad we have your expert advice on what the economy will look like in the coming months. I have an existing device and I plan on upgrading. An iPhone isn’t a want it’s a need for most people and you’ll see a large portion of people purchasing the 12 when it’s launched. Per orders will be sold out in hours.
Score: 2 Votes (Like | Disagree)
Kierkegaarden Avatar
71 months ago
I’m no analyst, but I’m guessing 15-20% down. I would imagine future quarters will be rocky as well.

Whatever the case, I’m not worried — Apple is a solid company and they seem to be responding well to the crisis. Their r&d budget sounds like it will remain robust, so this may push them ahead of competition in future years.
Score: 2 Votes (Like | Disagree)
Mr. Dee Avatar
71 months ago
Right now, it’s about the long term if you are invested Apple. If you are in it for the short term, expect your stomach to churn. The next quarters and coming year are gonna be rough. Even when we are in full recovery, the PTSD that comes out of this, people are gonna hang on to their money tighter due to fear of this happening again. Certainly those with existing devices will be keeping them a lot longer.

My plan all along was to start upgrading to newer Apple devices in 2023.
Score: 1 Votes (Like | Disagree)