If Apple misses this key number, it means Tim Cook is misjudging his business
Justin Sullivan/Getty Images
But another analyst suggested that a single positive data point could spark a rally.
One of the most likely silver linings to Apple's June quarter earnings is iPad sales - CEO Tim Cook essentially said so during the last earnings call.
"In the June quarter, we expect to see our best iPad revenue compare in over two years," Cook said during his remarks.
"We continue to be very optimistic on the iPad business. And as I had said in my remarks, we believe we're going to have the best compare for iPad revenue this quarter that we have had in quite some time. And so we'll report back in July on that one," Cook said.
Well, it's July - and smart eyes will be on that iPad number. It's hard to determine what Cook means by "best compare," especially since he did warn that iPad sales would be down from the 10.2 million Apple reported it sold last quarter.
The iPad is a bit of a canary in Apple's gold mine. Before iPhone and Mac sales started dropping, iPad sales declined for eight consecutive quarters year-over-year.
And earlier this year, some analysts questioned whether Cook and his team perhaps had lost the thread, and raised the possibility that he has been misjudging Apple's business.
If iPad sales don't post what is clearly the "best compare in over years," it would be a very strong sign that Cook might not know what's going wrong with Apple.
Last quarter, Apple reported $4.41 billion in iPad revenue, and in its June quarter last year, it reported $4.53 billion.
BI Intelligence
NOW WATCH: You can print your photos as pancakes now
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- One of the world's only 5-star airlines seems to be considering asking business-class passengers to bring their own cutlery
- Experts warn of rising temperatures in Bengaluru as Phase 2 of Lok Sabha elections draws near
- Axis Bank posts net profit of ₹7,129 cr in March quarter
- 7 Best tourist places to visit in Rishikesh in 2024
- From underdog to Bill Gates-sponsored superfood: Have millets finally managed to make a comeback?
- 7 Things to do on your next trip to Rishikesh