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Live updates: Apple investors watching iPhone sales in China ahead of earnings today

Live updates: Apple investors watching iPhone sales in China ahead of earnings today
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  • Amazon reports third-quarter earnings on Thursday.
  • The tech giant suffered from weak demand and rising competition in China earlier this year.

Apple is on deck to report fiscal third-quarter earnings after the closing bell on Thursday.

Analysts are feeling more positive about the iPhone-maker's results over the past quarter, despite headwinds earlier this year stemming from weak demand and rising competition in China.

Investors will be on high-alert for updates on the firm's success in China, the services side of its business, and Apple's key projects. That includes Apple Intelligence, its coming AI software, and the iPhone 16, which is set to be released this fall.

Apple's stock was up 15% year-to-date through Wednesday's close, slightly lagging the the S&P 500's 16% gain.

Apple's consensus third-quarter revenue estimate is $84.46 billion.

Third Quarter

  • Revenue estimate: $84.46 billion
  • Products revenue estimate: $60.63 billion

    • iPhone revenue estimate: $38.95 billion
    • Mac revenue estimate: $6.98 billion
    • iPad revenue estimate: $6.63 billion
    • Wearables, home, and accessories estimate: $7.79 billion
  • Service revenue estimate: $23.96 billion
  • Greater China rev. estimate: $15.26 billion
  • EPS estimate: $1.35
  • Operating cash flow estimate: $29.48 billion
  • Total operating expenses estimate: $14.39 billion
  • Gross margin estimate: $39.06 billion
  • Cash and cash equivalents estimate: $28.98 billion
  • Cost of sales estimate: $45.43 billion
  • Total current assets estimate: $124.01 billion
  • Total current liabilities estimate: $121.5 billion

Source: Bloomberg


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