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Apple has announced that it will be unveiling its highly anticipated earnings results for the third quarter of the 2023 fiscal year on Thursday, August 3. If you’re eager to dive into the details, mark your calendars for 1:30 p.m. Pacific Time when the report will be made available. And that’s not all—Apple’s CEO Tim Cook and CFO Luca Maestri will be hosting a conference call with analysts at 2:00 p.m. Pacific Time to discuss the results in depth.
For those who can’t tune in to the live call, don’t fret. Apple has got you covered. You can catch the audio stream of the conference call on Apple’s Investor Relations page, and if you miss it, a recording will be made available later in the day for your listening pleasure.
Now, let’s talk about what went down in the third quarter. Apple made some exciting moves, launching not one, not two, but three new Macs. Among the highlights were the 15-inch MacBook Air, an updated Mac Studio, and an upgraded Mac Pro. These sleek machines are sure to delight tech enthusiasts worldwide. But that’s not all—Apple also introduced the Apple Card savings account exclusively for residents of the United States, giving customers even more reasons to embrace the Apple ecosystem.
It’s worth noting that since the onset of the COVID-19 pandemic, Apple has refrained from providing formal revenue guidance. However, industry analysts have been crunching the numbers, and according to Yahoo Finance, the average revenue projection for this quarter is around $81.5 billion. While this would mark a slight decline of approximately 2% compared to the $83 billion revenue reported in the same quarter last year, it’s important to keep in mind the challenging economic circumstances faced by companies worldwide.
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During the previous earnings call, Luca Maestri, Apple’s CFO, shared his insights on the company’s performance, stating, “We expect our June quarter year-over-year revenue performance to be similar to the March quarter, assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter.” This glimpse into Apple’s expectations provides a valuable context for understanding the upcoming earnings report.
AAPL is currently trading at approximately $188 per share, with the stock inching closer to its 52-week high of $194.48. With such positive momentum, it will be interesting to see how the market responds to Apple’s earnings announcement.