What to Expect From Apple's Earnings Next Week Following New Macs

Apple will report its earnings results for the third quarter of its 2023 fiscal year on Thursday, August 3 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.

New Macs 2023
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

New Products During Quarter

The quarter ran from April 2 through July 1, according to Apple's fiscal calendar, and included the following product launches:

  • 15-inch MacBook Air (M2 chip)
  • Mac Studio (M2 Max and M2 Ultra chips)
  • Mac Pro (M2 Ultra chip)

Year-Over-Year Revenue Decline Expected

Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $81.6 billion this quarter on average, according to Yahoo Finance. This would be a decline of around 1.7% compared to the $83 billion revenue the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple's earnings call last quarter:

We expect our June quarter year-over-year revenue performance to be similar to the March quarter, assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on August 3 to discuss the company's third quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.

What's Next

Apple's fourth quarter began July 2 and runs through September 30. Apple has yet to announce any new products during the quarter, but new iPhone and Apple Watch pre-orders are expected to begin in the final few weeks of the quarter.

AAPL is currently trading at around $194, and is up around 55% since the start of the year.

Tags: AAPL, Earnings

Top Rated Comments

Isengardtom Avatar
10 months ago
Apple needs to start increasing the storage on it’s base computers. The 256 GB base is very low and the price of 230 EUR for 256 GB extra (or for 8 GB RAM) is borderline criminal.
Score: 14 Votes (Like | Disagree)
Aston441 Avatar
10 months ago
Stop abandoning good hardware Apple. You’re making your former loyal customers mad. Charge for software upgrades, if you must, like you used to. How dare you tout yourselves as an environmentally friendly company. Stop lying.
Score: 7 Votes (Like | Disagree)
TheYayAreaLiving ?️ Avatar
10 months ago
Hopefully, Apple does not discontinue the 15" M2 MacBook Air.

Apple seriously needs to consider releasing M3 Macbook Air tho in the near future.
Score: 7 Votes (Like | Disagree)
Realityck Avatar
10 months ago
Good signs for Aug 3rd already

https://www.proactiveinvestors.com/companies/news/1021953/apple-likely-to-top-3q-earnings-estimates-says-goldman-sachs-1021953.html

https://www.nasdaq.com/articles/apple-is-one-of-the-best-stocks-to-buy-and-hold-right-now
Score: 5 Votes (Like | Disagree)
svish Avatar
10 months ago
Should be a good quarter for Apple!
Score: 4 Votes (Like | Disagree)
DelayedGratificationGene Avatar
10 months ago

Thankfully sold my stock to buy Nvidia instead ☺️ I don’t see Apple as much of a growth stock anymore, sadly.
Do you always sell trillion dollar stocks with a 32 PE to buy trillion dollar stocks with a 350 PE ratio? Thankfully I hold onto my apple stock and not buy an incredibly risky high flyer like Nvidia.
Score: 3 Votes (Like | Disagree)

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