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

by

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

m1 chip slide

Five Years of Apple Silicon: M1 to M5 Performance Comparison

Monday November 10, 2025 1:08 pm PST by
Today marks the fifth anniversary of the Apple silicon chip that replaced Intel chips in Apple's Mac lineup. The first Apple silicon chip, the M1, was unveiled on November 10, 2020. The M1 debuted in the MacBook Air, Mac mini, and 13-inch MacBook Pro. The M1 chip was impressive when it launched, featuring the "world's fastest CPU core" and industry-leading performance per watt, and it's only ...
Read Full Article • 127 comments
Early Black Friday Deals 1

The Best Early Black Friday Apple Deals on AirPods, Apple Watch, iPad, and More

Saturday November 8, 2025 6:16 am 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 ...
Read Full Article • 5 comments
All Screen iPhone 2027 Feature 1

Apple to Hide Selfie Camera Under Display of 20th Anniversary iPhone

Monday November 10, 2025 1:55 am PST by
Apple will conceal the front-facing camera under the screen of its 2027 iPhone, a Chinese leaker said today, corroborating reports that Apple's 20th anniversary iPhone will have no visible cutouts in the display. Weibo-based account Digital Chat Station said Apple's development of under-screen camera technology was progressing as planned for adoption in 2027, one year after it will...
Read Full Article • 43 comments
2024 iPhone Boxes Feature

Apple Adjusts Trade-In Values for iPhones, iPads, Macs, and More

Thursday November 6, 2025 11:12 am PST by
Apple today updated its trade-in values for select iPhone, iPad, Mac, and Apple Watch models. Trade-ins can be completed on Apple's website, or at an Apple Store. The charts below provide an overview of Apple's current and previous trade-in values in the U.S., according to its website. Maximum values for most devices either decreased or saw no change, but the iPad Air received a slight bump. ...
Read Full Article • 73 comments
Apple fitness plus feature

Future of Apple Fitness+ 'Under Review'

Sunday November 9, 2025 5:30 am PST by
The future of Apple Fitness+ is "under review" amid a reorganization of the service, according to Bloomberg's Mark Gurman. In the latest edition of his "Power On" newsletter, Gurman said that Apple Fitness+ remains one of the company's "weakest digital offerings." The service apparently suffers from high churn and little revenue. Nevertheless, Fitness+ has a small, loyal fanbase that...
Read Full Article • 215 comments
iphone air thinness

iPhone Air Sales Are So Bad That Apple's Delaying the Next-Generation Version

Monday November 10, 2025 11:41 am PST by
The thin, light iPhone Air sold so poorly that Apple has decided to delay the launch of the next-generation iPhone Air that was scheduled to come out alongside the iPhone 18 Pro, reports The Information. Apple initially planned to release a new iPhone Air in fall 2026, but now that's not going to happen. Since the iPhone Air launched in September, there have been reports of poor sales...
Read Full Article • 450 comments
Liquid Glass General Feature

Apple Shares Liquid Glass Design Gallery

Thursday November 6, 2025 2:45 pm PST by
Apple is promoting the new Liquid Glass design in iOS 26, showing off the ways that third-party developers are embracing the aesthetic in their apps. On its developer website, Apple is featuring a visual gallery that demonstrates how "teams of all sizes" are creating Liquid Glass experiences. The gallery features examples of Liquid Glass in apps for iPhone, iPad, Apple Watch, and Mac. Apple...
Read Full Article • 119 comments
iOS 26

iOS 26.1 Available Now With These 8 New Features

Monday November 3, 2025 5:54 am PST by
Following more than a month of beta testing, Apple released iOS 26.1 on Monday, November 3. The update includes a handful of new features and changes, including the ability to adjust the look of Liquid Glass and more. Below, we outline iOS 26.1's key new features. Liquid Glass Toggle iOS 26.1 lets you choose your preferred look for Liquid Glass. In the Settings app, under Display...
Read Full Article
iPhone Satellite Feature

Apple Developing These 5 New Satellite Features for iPhone

Sunday November 9, 2025 6:07 am PST by
Apple is working on a series of new satellite connectivity features for the iPhone, Bloomberg's Mark Gurman reports. In this week's "Power On" newsletter, Gurman revealed that the new features in development include: Apple Maps via satellite: Navigation in Apple Maps without cellular or Wi-Fi connectivity. Photos in Messages via satellite: Support for sending photos in the Messages...
Read Full Article • 59 comments
maxresdefault

In-Depth iPhone Battery Experiment Pits Slow Charging Against Fast Charging

Friday November 7, 2025 1:19 pm PST by
HTX Studio this week shared the results from a six-month battery test that compared how fast charging and slow charging can affect battery life over time. Using six iPhone 12 models, the channel set up a system to drain the batteries from five percent and charge them to 100 percent over and over again. Three were fast charged, and three were slow charged. Another set of iPhones underwent...
Read Full Article • 179 comments

Top Rated Comments

Think|Different Avatar
Think|Different
27 months ago
$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Score: 20 Votes (Like | Disagree)
klasma Avatar
klasma
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
Karma*Police
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
ScottishDuck
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
bobdobalina
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
sw1tcher
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)
Read All Comments