Following the publication of its second fiscal quarter of 2020 results, Apple provided additional detail surrounding the particulars of the report during an hour-long conference call.
During its quarterly conference call, Apple CFO Luca Maestri shared that the iPhone maker's wearables division continues to see strong growth and is now the size of a Fortune 140 company.
Following a turbulent few months due to the COVID-19 pandemic, Apple has reported revenue earnings of $58.3 billion for the second quarter of 2020, beating Wall Street estimates by a large margin.
Apple will be announcing its financial results for the second quarter of 2020 on Thursday, but the ongoing COVID-19 pandemic is likely to result in considerably weaker results than usual. Here are what some analysts monitoring Apple and the coronavirus situation expect to hear during the filing and conference call.
Gene Levoff, Apple's former senior director of corporate law, continues to fight charges of insider trading and on Monday asked that his indictment be dismissed citing an argument of constitutionality.
Although iPhone demand uncertainty remains a concern, investment bank Cowen expects demand to improve in 2020, driven by the new iPhone SE and rumors of a 5G "iPhone 12."
Citing a trio of trends it expects to power Apple through the ongoing COVID crisis, investment bank JP Morgan on Monday recommended that investors use any post-earnings recalibration of the company's share price to make incremental adds to their existing positions.
The iPhone 11 still leads the U.S. iPhone sales market, with that one model accounting for over a third of the total units sold at the start of 2020 according to CIRP.
Veering on the side of caution, investment bank Goldman Sachs said Friday it's cutting its rating and price target on shares of Apple amid mounting uncertainty over the impact of COVID-19 on near-term consumer spending on items such as iPhones.
Fresh results from Piper Sandler's latest teen survey are in and they indicate Apple's mindshare among smartphone-wielding teenagers has never been higher, prompting the firm to boost its price target on shares of the iPhone maker.
Investment firm JP Morgan has trimmed its AAPL price target to $335 due to the expected fallout from social distancing and store closures having a larger than the previously-predicted impact on Apple's bottom line.
Apple on Tuesday announced plans to reveal quarterly earnings for the company's second fiscal quarter of 2020 on April 30, with CEO Tim Cook and CFO Luca Maestri expected to join analysts on a conference call after markets close.
Morgan Stanley said Friday it is reducing expectations for Apple through fiscal 2021 to better align with the bank's macro view that GDP growth will take a greater hit than previously expected, due largely to a prolonged consumer recovery.
Foxconn has told investors that the upcoming "iPhone 12" will be ready for its rumored fall release date in a private call it held with Goldman Sachs.
Despite ongoing concerns about temporary coronavirus effects on Apple's supply and demand, Wedbush analyst Daniel Ives is maintaining a positive outlook on the company's performance in 2020.
Following overnight supply chain reports suggesting that the A14 chip will see massive delays, J.P. Morgan's Gokul Hariharan casts serious doubt on the questionable report, but sees other factors potentially holding up the "iPhone 12" for up to two months.
Apple is no longer a company worth over a trillion dollars, a situation caused by investor panic over the coronavirus pandemic affecting stock markets around the world, but the reduced valuation is likely to be temporary.
The "once in a century" coronavirus outbreak is forcing Daniel Ives from Wedbush to tailor estimates for Apple downward, mostly based on iPhone demand deterioration in the short term and an "iPhone 12" release later than expected.
In a market research note released Tuesday, Goldman Sachs analyst Rod Hall cut near-term earnings estimates for Apple as the company braces for fallout from the ongoing coronavirus crisis.
JP Morgan's Samik Chatterjee is seeing big impacts to Apple in 2020 because of various market forces associated with the coronavirus, but no real impact to the company lasting through 2021.
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Mike Wuerthele
Andrew O'Hara
Malcolm Owen
AppleInsider Staff
Mike Peterson
Amber Neely
Mikey Campbell
