On the 27th of July Apple will report its earnings results for the third fiscal quarter of 2021. Analysts have put out their estimates for expected earnings but the consensus seems to suggest that Apple is likely to beat the street.
The average expectation on Wallstreet is that Apple will rake in $73 billion dollars of revenue with $1.00 earnings per share.
The Street is looking for $73 billion and $1.00 of earnings, both of which look likely conservative given the underlying iPhone strength we saw during the quarter with a particular uptick in demand out of China. While the chip shortage was an overhang for Apple during the quarter, we believe the iPhone and Services strength in the quarter neutralized any short term weakness that the Street was anticipating three months ago. Taking a step back we believe based on our recent Asia supply chain checks that iPhone 13 demand will be similar/slightly stronger than iPhone 12 out of the gates which speaks to our thesis that this elongated “supercycle” will continue for Cupertino well into 2022.
Daniel Ives from Wedbush Analysts
All the details of Apple’s latest earnings report will be covered here on AppleTLDR so stay tuned for coverage. Usually, Tim Cook and co provide some interesting tidbits related to the company, products and hints at their roadmap (albeit in a cryptic fashion).
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