LIVE: Apple earnings!

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Tim Cook

AP

Apple will deliver its 2016 first-quarter earnings report on Tuesday afternoon.

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Here's the big thing to look out for: Guidance from both Apple and analysts indicates that it could post its first year-over-year decline in revenue since 2003.

Another number investors are looking for is iPhone sales numbers, which could fall for the first time in the history of the device.

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Here's what analysts are expecting, via Bloomberg:

  • Q2 EPS: Expectations of $1.99
  • Q2 revenue: Expectations of $52 billion
  • Gross margin: Expectations of 39.47%
  • iPhone unit sales: Expectations of 50.7 million
  • iPhone ASP: $651 expected
  • iPad unit sales: Expectations of 9.4 million
  • Mac unit sales: Expectations of 4.6 million
  • Q3 revenue guidance: Expectations of $47.35 billion

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