LIVE: Apple earnings
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This quarter is usually Apple's slowest, and Wall Street is not expecting to be blown away.
Last quarter, Apple revealed that iPhone sales had dropped for the first time in its history, and provided revenue guidance for the June quarter of $41 billion to $43 billion.
At the midpoint, $42 billion, that would be a 15.3% decrease in sales over the same period last year.
Analysts also worry that the newest iPhone, the lower-cost $400 iPhone SE, might start to cut into Apple's famously healthy profit margins.
Here's what analysts expect Apple to report, compiled by Bloomberg:
- Q3 EPS (GAAP): $1.36
- Q3 revenue: $42.059 billion
- Gross margin: 37.94%
- iPhone unit sales: 39.9 million
- iPhone ASP: $606
- iPad unit sales: 9.1 million
- Mac unit sales: 4.4 million
- Q3 revenue guidance: $42.3 billion to $49.4 billion, averaging out to $45.6 billion
This post will be updated as the results are announced, so hit refresh or click here to update the page.