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: Earnings, AAPL

Top Rated Comments

Isengardtom Avatar
9 weeks 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
9 weeks 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
9 weeks 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
9 weeks ago
Good signs for Aug 3rd already


Score: 5 Votes (Like | Disagree)
svish Avatar
9 weeks ago
Should be a good quarter for Apple!
Score: 4 Votes (Like | Disagree)
DelayedGratificationGene Avatar
9 weeks 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)

Popular Stories

iphone se 4 modified flag edges

iPhone SE 4 Details: Action Button, USB-C Port, Face ID, and More

Wednesday September 27, 2023 1:34 pm PDT by
Significant changes are expected to arrive with Apple's fourth-generation iPhone SE, in terms of both design and hardware, MacRumors has learned. The iPhone SE 4, known internally under the codename Ghost, is expected to receive a new design derived almost entirely from the base model iPhone 14. According to our sources, the iPhone SE 4 will use a modified version of the iPhone 14 chassis...
iOS 17

Apple Releases iOS 17.0.2 and iPadOS 17.0.2 for All iPhones and iPads

Tuesday September 26, 2023 12:47 pm PDT by
Apple today released iOS 17.0.2 and iPadOS 17.0.2 updates, with the software coming five days after the releases of iOS 17.0.1 and iPadOS 17.0.1. Today's iOS 17.0.2 and iPadOS 17.0.2 updates arrive as build 21A351 and can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. Note that iOS 17.0.2 was previously made available for iPhone...
iOS 17

Everything New in iOS 17.1 Beta 1

Wednesday September 27, 2023 1:57 pm PDT by
Just a week after releasing iOS 17, Apple has seeded the first beta of iOS 17.1 to developers. iOS 17.1 adds some features that Apple promised were coming to iOS 17 in the future, plus it refines and improves some existing features. This guide covers everything new in the first iOS 17.1 beta. Apple Music Favorites You can favorite songs, albums, playlists, and artists in the iOS 17.1...
iPhone 15 Pro lineup

iPhone 15 Pro Overheating Concerns Highlighted in Two More Reports

Thursday September 28, 2023 6:25 am PDT by
iPhone 15 Pro and Pro Max overheating concerns continue to make headlines this week, with the topic highlighted by The Wall Street Journal and Bloomberg. Both of the reports document anecdotal complaints from customers, and outline potential causes, but it's unclear how many devices are actually affected. Bloomberg said the overheating could be caused or compounded by the iPhone's setup...
iPhone 15 Pro Lineup Feature

Kuo: iPhone 15 Pro Overheating Issues Likely Due to Thermal Compromises, Not 3nm Node

Tuesday September 26, 2023 9:12 am PDT by
Complaints about heat issues with the iPhone 15 Pro models are not related to TSMC's 3-nanometer node that was used for the A17 Pro chip, according to well-respected Apple analyst Ming-Chi Kuo. Kuo says that overheating could be caused by "compromises made in the thermal system design" that allowed Apple to cut down on the weight of the iPhone 15 Pro models. Kuo says that the reduced heat...
iPhone 15 USB C Port Keynote

Some USB-C Power Banks Fail to Work With iPhone 15

Thursday September 28, 2023 2:06 pm PDT by
Apple added a USB-C port to the iPhone 15 lineup this year, allowing it to work with USB-C cables, USB-C power banks, and more. It turns out that some USB-C battery packs are not working properly with Apple's iPhone 15, resulting in charging issues. As highlighted on Reddit and the MacRumors forums, not all existing USB-C power banks can be used with the iPhone 15 models, perhaps due to the...
Mac Gaming

Apple Explains How Game Mode Works in macOS Sonoma

Wednesday September 27, 2023 2:24 am PDT by
In macOS Sonoma, Game Mode prioritizes CPU and GPU performance for gaming purposes on Macs. For those unfamiliar with Game Mode, Apple on Tuesday published a support document providing more information on how to use the new feature. Game Mode optimizes your gaming experience by giving your game the highest priority access to your CPU and GPU, lowering usage for background tasks. And it...