Apple earnings expected to fall for first time in 10 quarters

“Apple stock has risen ahead of the iPhone maker’s fiscal second-quarter report, even though Wall Street forecasts declining sales and earnings,” Patrick Seitz reports for Investor’s Business Daily. “Apple earnings are due after the market close Tuesday.”
“Analysts expect Apple earnings of $2.37 a share, down 13% year over year, on sales of $57.55 billion, down 6%, according to Zacks Investment Research,” Seitz reports. “It would be the company’s second straight quarter of declining revenue and its first earnings drop in 10 quarters.”
“Analysts expect Apple to boost its quarterly dividend and share buyback authorization on Tuesday,” Seitz reports. “That could take the sting out of a downbeat March-quarter earnings report.”
Read more in the full article here.
MacDailyNews Take: As the iPhone replacement cycle lengthens (and ahead of the super cycle that the 5G iPhone will usher in), earnings will bobble about as major Apple services (Apple Arcade, Apple Card, Apple TV+) have yet to launch.
This too shall pass.
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