After a relatively lukewarm reception of the latest iPhone and weaker company guidance, Apple is set to report earnings after the close of the New York trading cash equity session. Sales and earnings are projected to decline on a year-on-year basis for the third consecutive quarter in Apple’s fiscal fourth quarter report. The consensus is for net income to come in at $1.65 per share, down 16.00%, while revenue is forecast to stand at $46.9 billion, down 9.00% for the three months ended September 24. Expectations are low as iPhone sales are widely believed to have dipped ahead of the release of iPhone 7 last month. Considering the device is the single largest component of Apple earnings, it will be important to see how sales figures performed during the period as well as the forward guidance from CEO Tim Cook as the company prepares for the upcoming holiday season.
All Eyes Turned To Apple Earnings
Daily Analysis - 25/10/2016