What to Expect From Apple's Earnings Report Tomorrow Following iPhone 15 Launch

Apple will report its earnings results for the fourth quarter of its 2023 fiscal year on Thursday, November 2 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.

iPhone 15 Pro lineup
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 ran from July 2 through September 30, according to Apple's fiscal calendar, and included the following product launches:

  • iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max
  • Apple Watch Series 9 and Apple Watch Ultra 2
  • AirPods Pro with USB-C charging case and EarPods with USB-C connector

Revenue Expectations

Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but Wall Street expects the company to report revenue of $89.28 billion in the fourth quarter, according to CNBC. This would be around a 1% decline compared to the $90.15 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 September quarter year-over-year revenue performance to be similar to the June quarter, assuming that the macroeconomic outlook doesn't 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 Thursday to discuss the company's fourth 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 first quarter of fiscal 2024 began October 1 and runs through December 30. So far during this period, new products announced by Apple include a lower-priced Apple Pencil with a USB-C port, an updated iMac with the M3 chip, and updated 14-inch and 16-inch MacBook Pro models with M3, M3 Pro, and M3 Max chips.

AAPL closed at $173.97 today, down from a 52-week high of $198.23.

Tags: AAPL, Earnings

Popular Stories

iOS 26

Everything New in iOS 26.2 Beta 3

Monday November 17, 2025 3:20 pm PST by
Apple provided developers with the third beta of an upcoming iOS 26.2 update, and there are still new features that are being added with each beta that we get. We've rounded up all of the changes that Apple made in beta 3. AirDrop Apple added new AirDrop functionality, providing a way for two people to share files temporarily without having to add one another as contacts. iOS 26.2...
applecare apple care banner

Apple Brings New AppleCare+ Options to India

Tuesday November 18, 2025 8:42 am PST by
Apple today announced an expansion of AppleCare+ coverage in India, with new options for monthly and annual plans, and the addition of Theft and Loss for iPhone for the first time. Options for monthly and annual AppleCare+ plans in India provide more choice and flexibility, allowing users to keep coverage for as long as they require. Apple's vice president of Worldwide iPhone Product...
iPhone 17 Pro Cosmic Orange

10 Reasons to Wait for Next Year's iPhone 18 Pro

Wednesday November 19, 2025 4:00 am PST by
Apple's iPhone development roadmap runs several years into the future and the company is continually working with suppliers on several successive iPhone models at the same time, which is why we often get rumored features months ahead of launch. The iPhone 18 series is no different, and we already have a good idea of what to expect for the iPhone 18 Pro and iPhone 18 Pro Max. One thing worth...
Apple Wallet ID Illinois

iPhone Driver's License Feature Launching in Illinois

Tuesday November 18, 2025 8:47 am PST by
In select U.S. states, residents can add their driver's license or state ID to the Wallet app on the iPhone and Apple Watch, providing a convenient and contactless way to display proof of identity or age at select airports and businesses, and in select apps. Starting this Wednesday, November 19, the feature will be available to residents of Illinois. The announcement confirmed that the...
iPhone 17 Pro and Air N1 Feature

iPhone 17 vs. iPhone 16 Wi-Fi Speeds: New Study Reveals the Winner

Tuesday November 18, 2025 10:53 am PST by
A new study has revealed that the iPhone 17, iPhone 17 Pro, iPhone 17 Pro Max, and iPhone Air achieve significantly faster average Wi-Fi speeds compared to the iPhone 16 series, thanks to Apple's custom-designed N1 chip. The study was conducted by Ookla, the company behind the popular Speedtest website and app. It said the results are based on global, crowdsourced Speedtest user data...
macbook black friday

The Best Early Black Friday Mac Deals

Tuesday November 18, 2025 7:32 am PST by
We're getting closer to Black Friday, which lands next week on Friday, November 28. In the lead-up to the shopping holiday, we're tracking a few lowest-ever prices on Apple's most popular Macs, including the M4 MacBook Air and brand new M5 MacBook Pro. 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,...
Magic Keyboard Touch ID Feature

Apple Releases New Firmware for 140W USB-C Power Adapter, Magic Keyboard and Magic Trackpad

Tuesday November 18, 2025 1:05 pm PST by
Apple today released updated firmware for several accessories, including the 140W USB-C Power Adapter, the Magic Trackpad 2, the Magic Trackpad USB-C, the Magic Keyboard with Touch ID, and the Magic Keyboard with Touch ID and Numeric Keypad. There is no word on what's included in the updated firmware at this time, but it could offer performance improvements and security updates. Accessory...
Apple Sports App Preview Feature

Apple Sports App on iPhone Now Available in More European Countries

Monday November 17, 2025 6:27 am PST by
The free Apple Sports app on the iPhone was released in additional European countries today, including Belgium, Croatia, Czechia, the Netherlands, Luxembourg, Poland, Hungary, Denmark, Finland, Norway, Sweden, Switzerland, Slovakia, Slovenia, Serbia, Greece, Estonia, Latvia, Romania, Ukraine, and others. The app was already available in the U.S., the U.K., Canada, Austria, France, Germany,...
best early black friday deals

Best Black Friday Apple Deals Live Now - Save on AirPods, iPads, and Apple Watches

Saturday November 15, 2025 1:45 pm PST by
We're officially in the month of Black Friday, which will take place on Friday, November 28 in 2025. As always, this will be the best time of the year to shop for great deals, including popular Apple products like AirPods, iPad, Apple Watch, and more. In this article, the majority of the discounts will be found on Amazon. Note: MacRumors is an affiliate partner with some of these vendors. When ...
ipad mini 7 feature red and blue

iPad Mini 8: Four Major New Features to Expect

Wednesday November 19, 2025 7:50 am PST by
Apple's eighth-generation iPad mini is highly likely to arrive next year, offering a significant refresh of the device with at least four major new features. OLED Display The next-generation version of the iPad mini could feature an OLED display, as part of Apple's plan to expand the display technology across many more of its devices. Apple's first OLED device was the Apple Watch in 2015, ...

Top Rated Comments

Think|Different Avatar
27 months ago
$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Score: 20 Votes (Like | Disagree)
klasma Avatar
27 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Can I sell you my AAPL stock for $300? Should still be a huge bargain for you.
Score: 15 Votes (Like | Disagree)
Karma*Police Avatar
27 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
So a company that is trading at 30x earnings with (at best) single digit growth and possibly negative growth next year with no catalyst for growth in sight is undervalued?? How do you figure?

Oh wait, I forgot this is a MacRumors forum. Never mind.
Score: 13 Votes (Like | Disagree)
ScottishDuck Avatar
27 months ago
I’m going to predict they made a lot of money and have more cash reserves than most of the G7 nations.
Score: 13 Votes (Like | Disagree)
bobdobalina Avatar
27 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
You think the fair value would be 80 times earnings? Apple's PE ratio is currently 28. I don't think it's undervalued.
Score: 9 Votes (Like | Disagree)
sw1tcher Avatar
27 months ago

No catalyst? What about 73% margin services? India and Southeast Asia? Apple Silicon besting the competition? Spatial Computing Vision Pro? After seeing the mindblowing Vision Pro imagine what the Apple Car will be like? No catalyst? Please
How will any of those things help them to return to revenue growth and massively boost their foward EPS by more than double current forward estimates?

For Apple to be at $500 and with their current foward PE of 28.71, Apple would have to bring in $17.41 in earnings per share for FY2023. That's almost 3x their current FY2023 estimate.
Score: 9 Votes (Like | Disagree)