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.
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
The iPhone 14 Pro and Pro Max introduce some major improvements in camera technology, adding a 48-megapixel lens and low-light improvements across all lenses with the new Photonic Engine. We've spent the last week working on an in-depth comparison that pits the new iPhone 14 Pro Max against the prior-generation iPhone 13 Pro Max to see just how much better the iPhone 14 Pro Max can be.
Subscrib ...
Thursday September 29, 2022 12:38 pm PDT by
Juli CloverTony Blevins, Apple's vice president of procurement, is set to depart the company after he made a crude comment about his profession in a recent TikTok video, reports Bloomberg.
Blevins was in a video by TikTok creator Daniel Mac, who was doing a series on the jobs of people he spotted with expensive cars. After seeing Blevins in an expensive Mercedes-Benz SLR McLaren, Mac asked Blevins what ...
Wednesday September 28, 2022 4:27 pm PDT by
Juli CloverThe Dark Sky weather app that's owned by Apple is no longer available for download in the U.S. App Store, suggesting that it has been removed ahead of schedule.
Apple acquired Dark Sky back in March 2020 and has since incorporated elements of the app into the Weather app available on the iPhone (and soon, the iPad).
Dark Sky remained available for purchase as a standalone weather app...
The third beta of iOS 16.1 that was released earlier this week expands the Adaptive Transparency feature introduced with the second-generation AirPods Pro to the original AirPods Pro.
As noted on Reddit, first-generation AirPods Pro owners who also have the AirPods beta software will now see an "Adaptive Transparency" toggle in the AirPods section of the Settings app. The 5A304A beta...
Thursday September 29, 2022 7:26 am PDT by
Sami FathiSpeaking at Università Degli Studi di Napoli Federico II in Naples, Italy, Apple CEO Tim Cook said that not too long from today, people will wonder how they led a life without augmented reality, stressing the "profound" impact it will have on the not so distant future. At the university, Cook was awarded an Honorary Degree in Innovation and International Management and also sat down for a...
Thursday September 29, 2022 9:08 am PDT by
Sami FathiOne of the biggest new features in iOS 16 is a completely redesigned iPhone Lock Screen. The new Lock Screen is entirely customizable, letting you change the colors and fonts, add widgets and new wallpapers, and more to make your iPhone uniquely yours. Of course, even before iOS 16, you could customize your Lock Screen with a wallpaper of your choice. iOS 16 takes the Lock Screen wallpaper...
The Wall Street Journal's Joanna Stern recently traveled to Michigan to test Apple's new crash detection feature on the iPhone 14 and Apple Watch Ultra. In response, Apple provided some additional information about how the feature works.
Stern recruited Michael Barabe to crash his demolition derby car with a heavy-duty steel frame into two unoccupied vehicles parked in a junkyard — a 2003...
The iPhone 14 and iPhone 14 Pro models bring over a longstanding Mac feature, but the setting to enable it is off by default.
The feature, which is actually a new accessibility option, allows the iPhone to play a startup chime like the Mac. When enabled, the sound comes alongside a new shutdown chime.
The Mac has featured a startup chime since 1987's Macintosh II, and the iconic "bong"...
This week's best Apple deals focus on the AirPods Pro, AirPods Pro 2, and M2 MacBook Air, including numerous all-time low prices on these devices. You'll also find up to 50 percent off discounts on Anker and Eufy accessories on Amazon.
Note: MacRumors is an affiliate partner with some of these vendors. When you click a link and make a purchase, we may receive a small payment, which helps us...
Wednesday September 28, 2022 10:22 am PDT by
Juli CloverApple has seen high demand for the 6.7-inch iPhone 14 Pro Max, which could lead the company to further differentiate the next-generation iPhone 15 Pro and Pro Max, according to Apple analyst Ming-Chi Kuo. Apple could add exclusive features to the iPhone 15 Pro Max in an effort to encourage more people to purchase the larger and more expensive device.
Kuo last week said that Apple asked...
Top Rated Comments
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.
My plan all along was to start upgrading to newer Apple devices in 2023.