What to Expect From Apple's Third Quarter Earnings Results on Thursday

[MacRumors]

Apple will be reporting its earnings results for the third quarter of the 2022 fiscal year on Thursday, July 28 at 1:30 p.m. Pacific Time. Apple will then host a conference call shortly afterwards to discuss the results.

Keep reading for some key things to know about Apple's third quarter, including analyst expectations for revenue and more.

New Products

Apple's third quarter ran from March 27 through June 25, according to its 2022 fiscal calendar. The only device that Apple released during this period was an updated 13-inch MacBook Pro with the M2 chip. Apple also unveiled a redesigned MacBook Air with the M2 chip in June, but orders did not begin until after the quarter ended.

Apple also released its first power adapters with dual USB-C ports and two new Pride Edition bands for the Apple Watch during the quarter.

Revenue Slowdown

Apple is estimated to report revenue of $82.6 billion in the third quarter, according to Yahoo Finance's average of 26 analyst estimates.

Apple reported revenue of $81.4 billion in the third quarter of 2021, so $82.6 billion would be year-of-year growth of approximately 1.5%, which would be a significant slowdown for Apple. By comparison, Apple's year-over-year revenue growth between the third quarters of 2020 and 2021 was 36%, as the COVID-19 pandemic greatly increased demand for Apple products and services as many people worked and learned from home.

Conference Call

Apple's CEO Tim Cook and CFO Luca Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday, July 28 to discuss the company's third quarter earnings results. The call should be around one hour long and will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be shared at a later time for replay.

Investors will be listening for any potential commentary surrounding the economy, as concerns mount over reduced consumer spending amid high inflation, the continued COVID-19 pandemic, the Russia-Ukraine war, and other factors. Apple reportedly plans to slow hiring and spending across some teams in 2023 amid increased economic uncertainty.

What's Next

Apple's fourth quarter began June 26 and runs through September 24. The quarter has already included the start of orders for the new MacBook Air with the M2 chip, and it will likely include at least a few days of iPhone 14 pre-orders as well.

Apple has not provided revenue guidance since the start of the COVID-19 pandemic, but slower revenue growth is expected to continue.

Apple shares are trading at around $152, down around 17% from a 52-week high of $182.94.

Article Link: What to Expect From Apple's Third Quarter Earnings Results on Thursday

 

[sw1tcher]

🍿 Will probably go down after earnings. Use it as an opportunity to add some more $AAPL. Think long term.

 

[I7guy]

Bad quarter for apple?

 

[JoshuaBru]

🍿 Will probably go down after earnings. Use it as an opportunity to add some more $AAPL. Think long term.

If you’re thinking long term, a buy is not a smart option right now.

 

[Schizoid]

Wheelbarrows full of cash being stored in the Cayman Islands?

 

[DFZD]

Since the betas are two weeks late for the first time in history, I have nothing left to expect from Apple. Bring Back Jony.

 

[jz0309]

they'll provide lower than expected outlook for the next quarter ...

 

[nvmls]

Since the betas are two weeks late for the first time in history, I have nothing left to expect from Apple. Bring Back Jony.

"Come on Tim, pick up!"

 

[sw1tcher]

If you’re thinking long term, a buy is not a smart option right now.

Not buying right now this very moment. I actually sold some this morning at $152 because it had run up so much since June lows. If it falls after earnings and only if it hits my price level (mid $120s) will I consider adding back some of what I sold.

 

[Realityck]

What to Expect Ahead of Apple's Third Quarter Earnings Results on Thursday

Hopefully dev beta 4 pushed out after 3 weeks wait. (July 6th, PB July 11th)

 

[Solomani]

🍿 Will probably go down after earnings. Use it as an opportunity to add some more $AAPL. Think long term.

AAPL is a good buy if it tanks back towards its 52-week low, around the 129-130 range.

A White House acknowledgement of "we are now officially in a Recession" will make that happen. The announcement will crash many many stocks, regardless of how good or how resilient they are.

 

[Mr. Dee]

I am holding on to my Apple Stock for the long term and I am likely to pick up some more soon.

 

[ghanwani]

They will beat on earning and revenue but guide lower.

 

[DocMultimedia]

I am holding on to my Apple Stock for the long term and I am likely to pick up some more soon.

I've done nothing but buy starting in 2004. Long term has been nice. I'm now retired and won't be buying more since I'm just living off dividends at this point. One of these days I'll start selling some for some bigger toys.

 

[tgwaste]

I'm sure Timmys working on the next price gouge as we speak.

 

[ghanwani]

I bought a couple of cables this quarter so I did my part. Of course also 10.98 per month to pay for music and iCloud storage.

 

[anthogag]

At the earnings call I suspect Apple will launch AirPods Pro 2.

 

[Isengardtom]

I'm expecting weaker European sales due to the strong USD / weak Euro at the moment.
This has pushed prices of the newer Apple products

 

[Unregistered 4U]

I'm expecting weaker European sales due to the strong USD / weak Euro at the moment.
This has pushed prices of the newer Apple products

Wow, hadn’t been paying attention, but it’s certainly isn’t a trend that benefits EU customers. That will likely push the EU region to be less valuable to Apple over time, as well.

 

[ProfessionalFan]

It'll be like a lot of other quarters. The stock will likely go down after the report no matter if it is good or bad. And people will rush to social media to declare Apple is on a downhill path just based on the stock price drop.

 

[DelayedGratificationGene]

Not buying right now this very moment. I actually sold some this morning at $152 because it had run up so much since June lows. If it falls after earnings and only if it hits my price level (mid $120s) will I consider adding back some of what I sold.

So now you have a nice fat cap gains tax bill. Market timing never works. As Peter lynch said much more money has been lost waiting for the correction then in the correction itself

 

[DelayedGratificationGene]

The Crystal Balls are out in force….

 

[JoshuaBru]

Not buying right now this very moment. I actually sold some this morning at $152 because it had run up so much since June lows. If it falls after earnings and only if it hits my price level (mid $120s) will I consider adding back some of what I sold.

Good plan

 

[Shirasaki]

Will we see $5T market value by the end of this year?

 

[t76turbo]

So now you have a nice fat cap gains tax bill. Market timing never works. As Peter lynch said much more money has been lost waiting for the correction then in the correction itself

Dont say never. I timed covid and made a very large profit. I would say it was only a couple steps shy of pure luck. But it can be done. I would agree that it doesn't work out the majority of the time.