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Apple's Q3 Earnings Expected to Meet Projections; Focus on Apple Upgrade Program Impact
Key points
- Apple's fiscal Q3 earnings report is due today.
- Analysts project 14-17% year-on-year revenue growth.
- EPS and revenue consensus estimates are $1.88 and $108.8 billion.
- Investor attention is on the Apple Upgrade program's expected impact.
Anticipated Earnings Performance
Apple is scheduled to release its fiscal Q3 earnings report today, covering the period ending in June. The company previously projected revenue growth in the range of 14% to 17% year-on-year. Current consensus estimates align with this forecast, with Zacks reporting an expected EPS of $1.88 and revenue of $108.8 billion, representing growth of 19.75% and 15.64% respectively.
Analyst Expectations and Ratings
While the consensus estimates suggest Apple will meet its projections, Zacks rates the stock as a 'hold' rather than a 'buy'. However, Apple has surpassed consensus estimates in each of the preceding four quarters. Motley Fool also rated it a 'buy', noting that the average target price remains stable, which is common after a rapid stock increase as analysts adjust their targets.
Focus on Apple Upgrade Program
A significant point of interest for investors during the earnings call will be Apple's commentary on the new Apple Upgrade program. This program aims to make purchases more affordable through monthly payments, potentially offsetting recent price increases. Investors are keen to understand if Apple expects this program to merely mitigate sales declines or to drive substantial growth.
Market Reaction Driver
The company's outlook and expectations regarding the Apple Upgrade program's impact are anticipated to be a primary factor influencing market reaction to today's earnings announcement. This will be the final earnings call with Tim Cook as CEO.
✨ This summary was generated by AI from the outlets' reporting listed below. It is not independently verified and may contain errors — check the original sources. How BrevFeed works →
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Reporting from
Apple is set to announce its fiscal Q3 earnings, with analysts expecting revenue growth between 14% and 17% year-on-year. The key focus for investors will be the company's outlook on the new Apple Upgrade program and its potential impact on sales.