AppleMaven Daniel Martins will be live blogging Apple’s (AAPL) - Get Free Report June quarter earnings report after the close on Thursday, July 30, and one of the things investors will be looking closely for are details on the impact of the coronavirus pandemic on Apple’s sales and plans.
Apple declined to give its usual quarterly guidance in its previous earnings report, and it may do the same on Thursday. In addition to lost sales due to Apple Store closures around the world, the coronavirus pandemic’s impact on Apple’s supply chain may cause it to delay the launch of its first 5G iPhones until October, rather than the usual September. This, in turn, could significantly affect Apple’s revenues in the all-important holiday quarter.
Among the other key things to watch for are whether Tim Cook addresses the antitrust hearings held on Wednesday and the questioning he received about Apple’s App Store policies; the performance of the budget iPhone SE, which has been a bright spot for Apple; regional sales figures and growth; and momentum for Apple’s fast-growing services business.
For the June quarter, analysts polled by FactSet are expecting Apple to post revenue of $52.12 billion (down 3% annually) and GAAP EPS of $2.04 (down 6%). Apple shares are up 29% this year on optimism about the 5G iPhone upgrade cycle.
We’ll also be reporting on and analyzing Apple’s earnings call with analysts, scheduled for 5:00 p.m. E.T.