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

Tim Cook Rainbow

Apple Event in October? Here's What to Expect

Monday September 29, 2025 9:31 am PDT by
Apple's annual iPhone event is in the rearview mirror, but rumors suggest the company plans to release a handful of additional products before the year ends. Will there be another Apple event this October? We discuss the possibility below. Apple in October Apple's most recent October events were in 2021 and 2023. In 2022 and 2024, Apple did not host an October event. Instead, it...
Read Full Article • 63 comments
apple wallet drivers license feature iPhone 15 pro teal 1

Apple's iPhone Driver's License Feature Now Available in 11 U.S. States

Tuesday September 30, 2025 6:40 am PDT 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. Apple recently revealed that the feature would soon be available in North Dakota, and starting today, the feature has officially gone...
Read Full Article • 53 comments
space black mbp

Here's Every New Apple Product That Leaked Yesterday

Wednesday October 1, 2025 8:27 am PDT by
A handful of upcoming Apple products leaked yesterday, through a combination of YouTube videos out of Russia and U.S. Federal Communications Commission (FCC) documents that were released, despite Apple's confidentiality requests. The leaked products include an iPad Pro with an M5 chip, as well as updated MacBook Pro and Apple Vision Pro models. All of these devices had already been rumored...
Read Full Article • 36 comments
maxresdefault

New iPad Pro With M5 Chip Leaked in Unboxing Video

Tuesday September 30, 2025 8:39 am PDT by
An apparent unboxing video for an unannounced iPad Pro with the M5 chip was uploaded to YouTube today by Russian channel Wylsacom. The same YouTube account leaked the 14-inch MacBook Pro with the M4 chip before it was announced by Apple last year, so this is likely a legitimate leak. Based on the box shown in the video, this appears to be a 13-inch iPad Pro with an M5 chip, 256GB of...
Read Full Article • 292 comments
fcc vision pro leak

FCC Accidentally Leaks Apple's Next Vision Pro

Tuesday September 30, 2025 3:48 pm PDT by
The United States Federal Communications Commission (FCC) has seemingly confirmed Apple's work on an updated version of the Vision Pro headset. One of several documents the FCC shared today references an Apple-designed "Head Mounted Device" with a model number of A3416. An included image confirms the device is a Vision Pro. The FCC's uploads are transmission tests, SAR test reports, and...
Read Full Article • 96 comments
macbook pro prime day 2025

FCC Leaks Upcoming MacBook Pro and More

Tuesday September 30, 2025 1:58 pm PDT by
The United States Federal Communications Commission has confirmed Apple's work on a new version of the MacBook Pro and several other products, leaking details on the devices ahead of launch. The FCC published documents that reference model numbers that do not correspond with existing devices. A3434, for example, references an unreleased MacBook Pro, while other numbers are likely for...
Read Full Article • 63 comments
iOS 26 Feature

iOS 26.1 to iOS 26.4 Will Add These New Features to Your iPhone

Wednesday October 1, 2025 1:26 pm PDT by
iOS 26 was released last month, but the software train never stops, and iOS 26.1 beta testing is already underway. So far, iOS 26.1 makes both Apple Intelligence and Live Translation on compatible AirPods available in additional languages, and it includes some other minor changes across Apple Music, Calendar, Photos, and Safari. More features and changes will follow in future versions,...
Read Full Article
iPhone 17 vs Air and Pros Feature

New iPhones See 'Stronger Than Expected' Demand With One Exception

Thursday October 2, 2025 7:26 am PDT by
Nearly two weeks after the iPhone 17 series launched, analysts at investment banking firm Morgan Stanley said demand for the devices has been "modestly stronger than we originally expected," based on a combination of extended shipping estimates on Apple's online store and information it gathered from Apple's supply chain. There has been strong early demand for the iPhone 17, iPhone 17 Pro,...
Read Full Article • 209 comments
Apple 2025 Thumb 1

Apple's 2025 Product Roadmap: What's Still Coming

Wednesday October 1, 2025 3:56 pm PDT by
Apple's two big yearly events, WWDC and the iPhone launch, are done and over with, but there are still some new products that we're expecting to see before the end of the year. Apple TV The Apple TV hasn't been updated since 2022, so it's due for a refresh. It doesn't look like Apple is going to change the design of its set-top box, but we can expect a faster chip Apple code suggests...
Read Full Article • 87 comments
iOS 26

Apple Releases iOS 26.0.1 With Fixes for Wi-Fi, Cellular, and Camera Issues on iPhone 17 Models

Monday September 29, 2025 10:12 am PDT by
Apple today released iOS 26.0.1 and iPadOS 26.0.1, the first updates to the iOS 26 and iPadOS 26 operating systems that came out earlier this week. The new software can be downloaded on eligible iPhones and iPads over-the-air by going to Settings > General > Software Update. According to Apple's release notes for the update, iOS 26.0.1 addresses a bug that could cause aberrations in...
Read Full Article • 201 comments

Top Rated Comments

Think|Different Avatar
Think|Different
25 months ago
$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Score: 20 Votes (Like | Disagree)
klasma Avatar
klasma
25 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
25 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
25 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
25 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
25 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