LIVE: Apple earnings!

pope tim cookAP

Here. We. Go.

Apple is about to deliver its most important earnings report in a long time.

The numbers should hit at 4:30 PM east coast time, and the call starts at 5 PM. We will have the numbers as soon as humanely possible (perhaps faster) so hit refresh on your browser, or click here to the latest.

Why is this such a big earnings report?

Because analysts believe Apple is going to deliver revenue guidance that shows a drop in revenue for the first three months of this year.

If that happens, it will be the first revenue decline as measured on a year-over-year basis in the modern history of the company.

If that happens it will be because the iPhone goes negative year-over-year for the first time ever.

If that happens if it will be fascinating to hear Apple's explanation for what's going on with the iPhone business.

If that doesn't happen, the stock might fly to the moon because everyone is expecting a drop in iPhones.

Here are the numbers analysts are looking for, via the Bloomberg terminal:
  • Q1 EPS: $3.23
  • Q1 revenue: $76.6 billion
  • Gross margin: 39.9%
  • iPhone unit sales: 75 million
  • Phone ASP: $674
  • iPad unit sales: 17.3 million
  • Mac unit sales: 5.8 million
  • Q2 EPS: $2.24
  • Q2 revenue: $55.7 billion
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