Photo: Dan Frommer, Business Insider
Apple is set to deliver June quarter earnings tonight after the close. Join us for live coverage starting at 4 P.M. eastern by clicking here.This June quarter was significantly different for Apple compared to other June quarters in the last few years because Apple didn’t reveal or release a new iPhone this quarter.
The uncertainty of the iPhone, coupled with continued uncertainty about Steve Jobs’ health and position at the company seemed to drag on the stock.
But, the picture has cleared up and all signs point towards a new iPhone coming in September as well as a new iPad sporting a super sharp “retina display”. The stock has picked up again and now it’s hitting an all time high as investors prepare for a monster second half of the year for Apple.
Here are the key stats to watch tonight. Read on after the stats for a more in-depth look at the numbers and issues to watch for tonight:
June qtr. revenue: $24.72 billion Street consensus, $26.69 billion “amateur” consensus, $26.72 billion “real” expectations (based on prior performance vs. guidance)
June qtr. iPhone shipments: 16.5 million Street consensus (via Piper Jaffray), 17.85 million “amateur” consensus
June qtr. iPad shipments: 7.8 million Street consensus (via Piper Jaffray), 8.4 million “amateur” consensus
June qtr. Mac shipments: 4.2 million Street consensus (via Piper Jaffray), 4.3 million “amateur” consensus
June qtr. iPod shipments: 8.4 million Street consensus (via Piper Jaffray), 8.4 million “amateur” consensus
September qtr. revenue guidance: $27.69 billion Street consensus, $28.36 billion Piper Jaffray expectations
September qtr. EPS guidance: $6.36 Street consensus, $6.42 Piper Jaffray expectations
Despite the fact that some consumers may have been holding out for an iPhone 5, Apple's 2011 June quarter sales are still expected to be almost double what they were a year ago. In the June quarter Apple released the white iPhone, and had a full quarter at Verizon. Although, Verizon sales are expected to be down on a quarter over quarter basis as consumers wait for the next iPhone.
Half way through the year and none of the iPad competitors have come close to threatening Apple's dominance of the market. Apple has finally caught up with iPad demand and it is expected to announce 8 million or more units sold.
The iPod is no longer an important part of Apple's business, but because it really kick started Apple's resurgence it's fun to keep an eye on. Analysts are expecting a decline in sales. Will Apple surprise us and have stronger than expected iPod sales?
Apple just lost the head of its successful retail division, but that's not slowing down roll out of new stores. According to a report from Current, it will be opening a new store every other day for the next two months.
Steve Jobs doesn't often jump on earnings calls, so we're not expecting him. And Apple is especially tight lipped about Jobs health on the calls. So we're only expecting perfunctory comments about Jobs, but we'll be keeping an ear open for any clues about how he's doing or how often he's coming to work.
In the press release announcing earnings Apple will often say something that would be bland from any other company, but gets Apple obsessives thrilled. For instance in January it said, 'we've got some exciting things in the pipeline.' Standard corporate speak, right? Well, a few moths later Apple revealed the iPad 2.
We expect Apple will say something about new products coming, and it will be a reference to iPhone 5 or iPad 3.
We're expecting to see a new iPhone, new iPad, new MacBook Airs, and possibly a new Apple TV. There's also talk that Apple will release a cheaper iPhone, or a prepaid iPhone. How will all of those things affect guidance?