Explore the latest developments concerning Apple’s first quarter.
Apple’s first quarter earnings will focus on iPhone sales, AI outlook
Apple (AAPL) CEO Tim Cook and company will take center stage on Thursday when the company reports its first quarter earnings results. The Street is looking for a strong showing on the strength of Apple’s iPhone 17 sales and Services segment.
During Apple’s fourth quarter earnings call, Cook said the company anticipates first quarter revenue to be the “best-ever for the company and the best ever for iPhone.” That’s set some big expectations for the company’s results.
But there’s more going on in Apple World than iPhone sales. The company, like many in the tech industry, is contending with a worldwide memory shortage caused by the global AI data center buildout, which is driving up prices on the key components.
Apple set to report earnings: iPhone growth, AI, memory costs will be in focus in first quarter
Apple is set to report fiscal first-quarter earnings on Thursday after the bell.
Here's what Wall Street is expecting, according to LSEG consensus estimates:
Apple's fiscal first quarter ended in December, and the company previously signaled that it anticipated a lot of people would buy iPhones in the holiday season.
The company said it expected overall revenue to grow between 10% and 12% in the quarter and a similar double-digit growth rate for iPhone sales. That would indicate Apple is expecting between $136.73 billion and $139.22 billion in the first full quarter of iPhone 17 sales.
This has led to optimism among analysts that the company will post a beat on Thursday. Regardless, investors have sold off the stock, and it's down nearly 11% since its peak on Dec. 2.
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For more detailed information, explore updates concerning Apple’s first quarter.
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