Performance Preview: Apple's quarterly sales are expected to grow by 16% year-on-year, mainly driven by iPhone
Apple is expected to announce a year-on-year revenue growth of approximately 16% for the third fiscal quarter on July 30, approaching $109 billion, primarily driven by the growth of the iPhone 17 series and services business. Due to a shortage of storage chips, some products have seen price increases. Additionally, hardware chief John Ternus will succeed Cook as CEO on September 1, and this earnings call will be Cook's last appearance as CEO
Apple will announce its financial report on July 30, with revenue expected to grow by about 16% in the last full quarter under CEO Tim Cook's leadership.
Wall Street anticipates that Apple's third fiscal quarter sales will approach $109 billion, up from $94 billion in the same period last year, with most of the increase expected to come from the iPhone. Apple launched the iPhone 17 Pro and Air models last year, updating the product design.
Revenue from the services business is also expected to see significant growth again, while product categories such as Mac, wearables, and iPad may perform relatively steadily.
Investors will also pay attention to the impact of the storage chip shortage. Due to this issue, Apple has recently been forced to raise prices on several products.
On September 1, Apple's hardware business head John Ternus will succeed Cook as CEO, and the earnings call on Thursday will be Cook's last appearance as CEO
