AAPL - LONGmacro support and wedge breakout to the upside, target 222-225 next few days following FOMC.
Apple's next earnings report is expected to be released on August 1, 2024. Analysts project a slight decline in revenue and earnings compared to the same period last year. The consensus estimates for the fiscal third quarter are:
- **Revenue**: $90.36 billion, down from $94.84 billion in Q3 2023.
- **Earnings Per Share (EPS)**: $1.50, slightly down from $1.52 in Q3 2023.
- **Net Income**: $23.26 billion, down from $24.16 billion in the same period last year.
Key points of interest include iPhone sales, especially in China, where increased competition has led to a projected 15% decline in sales. Analysts expect Apple to report selling approximately 51.6 million iPhone units, down from 58 million units a year ago. Additionally, there are high expectations for updates related to Apple's artificial intelligence initiatives, as the company has been relatively quiet about its AI plans compared to its peers.
Investors will also be looking for potential announcements regarding a new $90 billion stock buyback program and a 3% dividend increase, which could positively influence market sentiment.