Whew. It's going to be a long earnings day.
Apple is set to report after the bell Thursday,
There will be two key metrics that investors and analysts are watching and those are services and iPhones.
So, when it comes to services what should we be expecting?
TheStreet's Annie Gaus dug into what we should be watching when Apple reports later this evening. When it comes to services, Gaus wrote, "With more people stuck at home, analysts expect Apple's services business to show healthy results. For the June quarter, analysts forecast revenue of $13.13 billion for the services segment, which analysts view as a linchpin of Apple's valuation potential."
She continued, "Wall Street is beginning to fully appreciate what services are worth to Apple, and how they complement iPhone sales, according to Wedbush analyst Dan Ives: "The services business we assign a $600 billion to $650 billion valuation range given the increasing importance of this key revenue stream that is getting a new appreciation by investors during this COVID-19 pandemic," he wrote. Apple management will likely comment on what trends they saw across the growing service's lineup, which includes the App Store, Apple TV+, Apple News+, Apple Arcade, Apple Card and other offerings."
Gaus also noted that the iPhone SE is one the bright spots in Apple's year so far.
On its last earnings call, Apple told investors that the new phone had a warm reception, and early demand signals appear strong.
Watch the video above for more from Jim Cramer.
You can follow Katherine Ross on Twitter at @byKatherineRoss.
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