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

Apple AI Command Center Concept Mock 3

Apple Expected to Launch This All-New Device Next Year

Wednesday November 27, 2024 1:05 pm PST by
Apple is expected to kick off 2025 by launching an all-new smart home hub, also referred to as a "command center," as early as March. The hub is expected to feature around a six-inch display that can be attached to a tabletop base with a speaker, or mounted on a wall. The device is said to run a new "homeOS" operating system with a customizable widget-focused home screen, and it is expected...
Read Full Article
Whatsapp Feature

WhatsApp to Drop Support for These iPhones Starting May 2025

Monday December 2, 2024 2:57 am PST by
WhatsApp is set to end support for iOS versions older than iOS 15.1 from May next year, removing the chat platform's compatibility with several iPhone models in the process. From May 5, 2025, WhatsApp will no longer be compatible with iPhone 5s, iPhone 6, and iPhone 6 Plus models. Users with those devices won't be able to access the encrypted chat service after the specified date unless they ...
Read Full Article • 53 comments
New Things Your iPhone Can Do in iOS 18

18 New Things Your iPhone Can Do in iOS 18.2

Wednesday November 27, 2024 5:05 am PST by
Apple is set to release iOS 18.2 in early December, bringing the second round of Apple Intelligence features to iPhone 15 Pro and iPhone 16 models. This update brings several major advancements to Apple's AI integration, including completely new image generation tools and a range of Visual Intelligence-based enhancements. There are a handful of new non-AI related feature controls incoming as...
Read Full Article • 28 comments
iOS 18

Here Are Apple's Full Release Notes for iOS 18.2

Thursday December 5, 2024 11:48 am PST by
Apple seeded the release candidate version of iOS 18.2 today, which means it's going to see a public launch imminently. Release candidates represent the final version of new software that will be provided to the public should no last minute bugs be found, and Apple includes release notes with the RC launch. The iOS 18.2 release notes provide a look at all of the new features that are coming...
Read Full Article • 53 comments
Flip iPhone Thumb 1

Apple's 2026 Foldable iPhone Could Reinvigorate Stalling Market

Monday December 2, 2024 4:04 pm PST by
The foldable smartphone market has stalled with customer interest in foldables waning, but that could change when Apple debuts a foldable iPhone, according to display analyst Ross Young. In a report on the current foldable smartphone market, Young says that Apple is expected to "enter the foldable market" in the second half of 2026. Apple's "dominant position in flagship smartphones" could...
Read Full Article • 279 comments
airpods pro 2 gradient

AirPods Pro 3 Expected Next Year: Here's What We Know

Thursday November 28, 2024 3:30 am PST by
Despite being released over two years ago, Apple's AirPods Pro 2 continue to dominate the wireless earbud market. However, with the AirPods Pro 3 expected to launch sometime in 2025, anyone thinking of buying Apple's premium earbuds may be wondering if the next generation is worth holding out for. Apart from their audio and noise-canceling performance, which are generally regarded as...
Read Full Article • 64 comments
Tim Cook WWDC 2024

Apple CEO Tim Cook Opens Up About AI Plans, Vision Pro Future, and More in New Interview

Wednesday December 4, 2024 5:40 am PST by
WIRED today shared in an in-depth interview with Apple CEO Tim Cook, asking questions about AI, Vision Pro sales, pre-recorded keynotes, and more. The wide-ranging interview covers Apple's pivot toward AI technology, including what Apple Intelligence features Cook finds most useful, Apple's partnership with OpenAI, and the environmental impact of AI. For example, WIRED asked Cook about...
Read Full Article • 112 comments
iPhone 17 Pro Dual Tone Rectangle Feature 1

iPhone 17 Pro Already Rumored to Have These 8 New Features

Wednesday November 27, 2024 12:19 pm PST by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch for 10 more months, there are already plenty of rumors about the devices. An imaginative iPhone 17 Pro concept based on rumors Below, we recap key changes rumored for the iPhone 17 Pro models so far: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro ...
Read Full Article • 216 comments

Top Rated Comments

Think|Different Avatar
Think|Different
14 months ago
$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Score: 20 Votes (Like | Disagree)
klasma Avatar
klasma
14 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
14 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
14 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
14 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
14 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