[ad_1]
Apple will not have to do much to impress Wall Street on Tuesday.
The tech giant is expected to post earnings for the second quarter of its fiscal year after the market closes – and, like the company, analysts have extremely modest expectations. They expect the company to announce that its sales and profits have fallen compared to the same quarter last year and that it will do so again in the third quarter.
If the company crossed this low bar, it could see its stock explode.
Wall Street has reset its forecast for the company this year after warning in January that iPhone sales would have been worse than expected during the holidays and that lingering difficulties would continue over the next few months. This warning followed a lot of information and clues that its latest models did not appeal to consumers as much as previous models. As it's unlikely that Apple will update its lineup here this fall, analysts predict that its sales will not rebound any time soon.
Although analysts and investors have already largely amortized this comprehensive report, they will likely look at the results of Apple's service activity. As its iPhone sales slowed, the company was increasingly touting the growth of this segment, which encompasses everything from its Apple Music subscription service to its iCloud storage business, to the money earned. from Google for the promotion of Google's search engine. Last month, Apple unveiled new subscription services for news, games and videos, although only the news service has been launched to date.
Read it:This is why Apple's next video streaming service will not spare it from falling iPhone sales
Here is what Wall Street expects from Apple, according to Bloomberg, and how its forecasts compare to the results of the previous year:
- Second quarter revenue (Q2): $ 57.5 billion. During the same period last year, Apple achieved a turnover of $ 61.1 billion.
- IPhone Q2 sales: $ 30.5 billion. The company recorded iPhone sales of $ 38 billion in the second quarter of 2018.
- Q2 service sales: $ 11.2 billion. Apple's service operations generated $ 9.2 billion in revenue during the same period last year.
- Q2 earnings per share (EPS): $ 2.37. The iPhone maker earned $ 2.73 a share in the second quarter of last year.
- Third quarter fiscal revenue (Q3): $ 52.2 billion. Apple made sales of $ 53.3 billion during the same period in 2018.
- Q3 EPS: $ 2.08. The company posted earnings per share of $ 2.34 in the third quarter of last year.
In recent transactions, Apple's shares lost 200%, down $ 4.08, or 2%.
Do you have any advice regarding a startup or other technology company? Contact this reporter by e-mail at [email protected], send him a message on Twitter @troywolv, or send him a secure message via Signal at 415.515.5594. You can also contact Business Insider securely via SecureDrop.
[ad_2]
Source link