Live updates: Apple investors watching iPhone sales in China ahead of earnings today

01.08.2024 17:19

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Amazon reports third-quarter earnings on Thursday.
The tech giant suffered from weak demand and rising competition in China earlier this year.
Investors are looking for updates on its performance in China and coming products, like the iPhone 16.

Apple is on deck to report fiscal third-quarter earnings after the closing bell on Thursday.

Analysts are feeling more positive about the iPhone-maker's results over the past quarter, despite headwinds earlier this year stemming from weak demand and rising competition in China.

Investors will be on high-alert for updates on the firm's success in China, the services side of its business, and Apple's key projects. That includes Apple Intelligence, its coming AI software, and the iPhone 16, which is set to be released this fall.

Apple's stock was up 15% year-to-date through Wednesday's close, slightly lagging the the S&P 500's 16% gain.

Apple's consensus third-quarter revenue estimate is $84.46 billion.

Third Quarter

Revenue estimate: $84.46 billion
Products revenue estimate: $60.63 billion
- iPhone revenue estimate: $38.95 billion
- Mac revenue estimate: $6.98 billion
- iPad revenue estimate: $6.63 billion
- Wearables, home, and accessories estimate: $7.79 billion
Service revenue estimate: $23.96 billion
Greater China rev. estimate: $15.26 billion
EPS estimate: $1.35
Operating cash flow estimate: $29.48 billion
Total operating expenses estimate: $14.39 billion
Gross margin estimate: $39.06 billion
Cash and cash equivalents estimate: $28.98 billion
Cost of sales estimate: $45.43 billion
Total current assets estimate: $124.01 billion
Total current liabilities estimate: $121.5 billion

Source: Bloomberg

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