Tim Cook Apple


Apple is about to report earnings.

We’re going to have the numbers as soon as they’re out.

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All things considered, this is the least important, least interesting quarter of the year for Apple.

There were no new products announced during the period, so the results aren’t expected to be spectacular. 

As always, we’ll be looking for some clues about what Apple has up its sleeve. The number to watch is revenue guidance. If it’s super low, then it’s a sign nothing is coming this quarter.

Here’s the numbers of interest, via Piper Jaffray analyst Gene Munster:

  • Revenue: $35.18 billion expected by sell-side analysts. Whisper is $37 billion. Apple’s guidance is $34.5 billion (midpoint).
  • EPS: $7.34 expected by sell-side analysts. 
  • iPhone units: 26 million expected by sell-side analysts. Whisper is 26.5 million.
  • iPad units: 18.3 million expected by sell-side analysts. Whisper is 18 million. 
  • Gross Margin: 37% expected by sell-side, and it’s the whisper number, too. Apple guided to 36.5% midpoint on margin for the quarter.
  • Mac units: 3.9 million expected by sell-side analysts, and it’s the whisper number, too.
  • September quarter revenue: $37.9 billion expected by sell-side analysts. Whisper is $37 billion.
  • September quarter gross margin: 37% expected by sell-side analysts. 

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