After Tuesday’s market close, Apple is set to release its quarterly earnings report. Along with their earnings results, both Apple fans and shareholders are expecting the company to announce new announcements regarding its upcoming tenth anniversary iPhone which is set to be released this September.
Last month, various reports also revealed that the company is planning to release another iPhone version by 2018 aside from the one planned already to be released this year. The company who has been acquiring deals that would bring them higher supplies of OLED panels known for being used in Samsung and LG devices is projected to release devices next year that would fully feature OLED displays whole one of the three flagship iPhones to be released next month will already be fitted with an OLED screen.
For its earnings, the company is forecasted to deliver earnings of $1.57 per share with their revenue coming in at $44.89 billion which is 6% higher during the same period last year.
During the company’s previous earnings report, the company posted a surprising decline in its iPhone sales after having reported during the prior quarter that it was able to sell around 50.76 million iPhone units considerable lower from the previous year’s iPhone sales of 51.189 million for the same period. The company also missed most forecasts of 52.27 million iPhone sales for the fiscal second quarter.
Investors would also be looking at Apple’s numbers for its services business which has been growing at a fast rate during the past couple of months. These services which include Apple’s App Store, Apple Pay, and Apple Music delivered new all-time records bringing in more revenue for the company. Their revenue from Apple services is expected to jump by as much as $52 billion this quarter due to its ongoing demand.
While it posted strong iPhone sales during the first quarter due to the unprecedented demand in the iPhone 7 Plus during its release and during the holiday quarter, some analysts are expecting a slight decline in the upcoming earnings report in anticipation of the upcoming iPhone to be launched next month also partly due to the numerous reports and supposed leaks of the specifications of the said device.
However, the company was able to slightly beat analyst expectations with their earnings coming in at $2.10 per share versus estimates of $2.02 per share. Apple’s gross margin is predicted to rise by 37.5% or as much as 38.5% during the quarter while its operating expenses are predicted to come at around $6.6 billion to $6.7 billion for the quarter.