Apple is due to report fiscal third-quarter results this week, and investors will be closely watching the performance of the world’s most valuable company.
The iPhone maker and tech giant recently reclaimed its position as the world’s most valuable company by market capitalization from Microsoft and Nvidia, two organizations that have been catapulted to new heights this year by the ongoing AI revolution.
As of July 31, Apple’s market capitalization was $3.1 trillion, and the company’s stock price has risen 18% since the beginning of the year.
When is Apple’s (AAPL) next earnings report?
Apple’s third-quarter fiscal year earnings report is scheduled to be released after the U.S. market closes on Thursday, August 1, at 2pm Pacific time or 5pm Eastern time.
The conference call will be webcast. Apple’s Investor Relations Site Anyone can participate.
What can we expect from Apple’s earnings report?
iPhone sales in China
One big metric to watch is Apple’s iPhone sales in China, which is a huge market for the company and will account for 19% of its total revenue in 2023.
APPL’s ​​shares fell earlier this year on concerns that iPhone sales in China would slow, and analysts are hoping the company’s third-quarter report will show a recovery in sales in the Far East.
Increased Revenue
Expert Visible Alpha The company forecasts third-quarter revenue of $84.44 billion, up slightly from the same period last year. The steady increase suggests Apple continues to see strong demand for its products and services amid ongoing economic challenges and intense competition.
iPhone 16
There’s been a lot of anticipation and speculation surrounding the iPhone 16 and its release date. It’s widely expected to be unveiled in September and will feature both the A18 chip and the next-generation M4 chip for Macs, a combination that will significantly boost the number of built-in AI computing cores.
More details about the iPhone 16 could have a positive impact on Apple’s stock price.
AI Project
The company is expected to discuss its ongoing AI efforts during its earnings conference call, potentially providing investors with clarity on how emerging technologies will impact Apple.
Earlier this month, ReadWrite reported that an update on this could be significant, as Apple’s new AI features likely won’t arrive in time for the first release of the iPhone and iPad software overhaul.
Featured Image: Ideograms
