What to Expect From Apple's Earnings Results Following New Macs and HomePod

[MacRumors]

Apple will report its earnings results for the second quarter of its 2023 fiscal year on Thursday, May 4 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call for investors a half hour later.

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 January 1 through April 1, according to Apple's fiscal calendar, and included the following product launches:

• 14-inch and 16-inch MacBook Pro (M2 Pro and M2 Max chips)
• Mac mini (M2 and M2 Pro chips)
• HomePod (2nd generation)
• iPhone 14 and iPhone 14 Plus (Yellow)
• Black Unity Sport Loop

Year-Over-Year Revenue Decline Expected

Apple has not provided guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $93 billion on average this quarter, according to Yahoo Finance. This would be a revenue decline of around 4.5% compared to the $97.3 billion the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple's earnings call last quarter:

Given the continued uncertainty around the world in the near term, we are not providing revenue guidance, but we are sharing some directional insights based on the assumption that the macroeconomic outlook and COVID-related impacts to our business do not worsen from what we are projecting today for the current quarter. In total, we expect our March quarter year-over-year revenue performance to be similar to the December quarter.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on May 4 to discuss the company's second 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.

Investors will be listening for any potential commentary surrounding the economy as concerns persist about a recession in the U.S. and other countries.

What's Next

Apple's third quarter began April 2 and runs through July 1. Apple has yet to announce any new products during this quarter, but it did open its first retail stores in India and launch an Apple Card savings account in partnership with Goldman Sachs.

AAPL is currently trading at around $168, down around 4.5% from a 52-week high of $176.15.

Article Link: What to Expect From Apple's Earnings Results Following New Macs and HomePod

 

[Octavius8]

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?

 

[TheYayAreaLiving 🎗️]

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?

We just need one thing.

Courage

 

[stefanovago]

I’ll short AAPL next week

 

[RalfTheDog]

I’ll short AAPL next week

Shorting any stock is never a good investment strategy. I would not even call it a bad investment strategy. Short term trading is not investment. Even if a company is not performing, betting that it's stock will go down over a short time frame is not that bright. Investors are not rational on a perspective less than a few years. Even if you do make some money, a good portion of that will go to short term capitol gains.

 

[RalfTheDog]

We just need one thing.

Courage

A bit of creativity would be nice too.

 

[ThomasJL]

Apple will report its earnings results for the second quarter of its 2023 fiscal year on Thursday, May 4 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call for investors a half hour later.

This must be Tim Cook's favorite event of the year because it has nothing to do with products and everything to do with money.

 

[FlavorfulTreat]

Who needs an actual new product or innovation when stock buybacks must continue in this cartoonish cycle of greed we are living in??

Who wants the over/under on the buyback amount?

I’m going big with a start to the wagering at O 19B.

 

[compwiz1202]

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?

They need whatever the consumers will keep laying down the money for

 

[wossogststepp]

I’ll short AAPL next week

And you think the possible revenue decline is not already accounted for in the current stock price? There is usually little surprise around what Apple reveals in the conf call.

 

[Realityck]

Apple's third quarter began April 2 and runs through July 1. Apple has yet to announce any new products during this quarter, but it did open its first retail stores in India and launch an Apple Card savings account in partnership with Goldman Sachs.

They will wait a little longer after May 4th financials and then start to announce stuff so they can play up this third quarter as more positive.

 

[vegetassj4]

Tim Cook getting ready for the earnings call: Who put this thing together? Me, that's who...

 

[Aston441]

I’ll short AAPL next week

You'll lose. All this negative stuff has been priced in for weeks. Stock price will rise.

 

[Aston441]

They need whatever the consumers will keep laying down the money for

The word you're looking for is "marketing."

 

[wilhoitm]

They need whatever the consumers will keep laying down the money for

I hate to say it but "Services" is that thing!

 

[MacWiz_007]

Yeah, I'm sure they are going to see a huge revenue bump from HomePod! 😂

 

[nylonsteel]

this call will be interesting whether or not stock goes up or down. will be looking for some sort of direction on forward guidance. remember aapl is in a "reality distortion field" so no clear indication if stock will go up or down after the call. again this one will be interesting

 

[satchmo]

Does anyone know how they determine who gets to pose questions during the earning call?
Random, or hand-picked by Apple?

 

[MacWiz_007]

Does anyone know how they determine who gets to pose questions during the earning call?
Random, or hand-picked by Apple?

Random? Surely you jest!!

 

[nutmac]

Do we need innovation to keep the profit growing?, or just new colors, new buttons and new islands?

The answer is obvious. More yellow!

 

[DelayedGratificationGene]

I’ll short AAPL next week

Although you’re welcome here IMO a better place for you would be Vegas.com.

 

[DelayedGratificationGene]

Shorting any stock is never a good investment strategy. I would not even call it a bad investment strategy. Short term trading is not investment. Even if a company is not performing, betting that its stock will go down over a short time frame is not that bright. Investors are not rational on a perspective less than a few years. Even if you do make some money, a good portion of that will go to short term capitol gains.

Well said but these gamblers just don’t get it. It always amazes me how some people can take a proven longterm moneymaker and turn it into a short term money losing Casino. All simplybecause they have the patience level of a toddler.

 

[CarAnalogy]

This must be Tim Cook's favorite event of the year because it has nothing to do with products and everything to do with money.

He does seem remarkably at home on the conference calls, and remarkably disingenuous during product announcements.

 

[CarAnalogy]

Does anyone know how they determine who gets to pose questions during the earning call?
Random, or hand-picked by Apple?

Apple is well known for its bespoke products, reviewers, and financial analysts.

 

[Mrkevinfinnerty]

Minutes after Tim announces the Homepod sales numbers