Apple's Fiscal 2016 Earnings Report is now scheduled for Monday, April 25th. Apple CEO Tim Cook and CFO Luca Maestri are expected to review Apple's January through March quarter financial results and give us their projections for Q3.
In the previous earnings report on January 25th, Apple estimated that its revenue for Q2 would be between $50 and $53 billion, and that created a stir because that's projected to be less than a year ago in Q2 of $58 billion. Observers wondered if iPhone sales are peaking, since they account for well over 60 percent of Apple's total revenue. We're looking to see how conservative Apple was.
In any case, a reduction from Q1 is historically typical for 2nd quarter results following the huge Q1/Holiday quarter. In Q1, Apple earned almost $76 billion in revenue.
One way Apple may be seeking to even out and bolster the typically lower Q2 or Q3 revenue is by introducing a smaller, less expensive iPhone with global appeal early in the fIscal year. (This year, the iPhone SE didn't ship until March 31, so it won't affect Q2's results.)
Another thing to look for is whether Tim Cook says anything about how the efforts to reinvigorate the iPad are going now that we have the iPad Pro series with greater capabilities. The iPad Pro 12.9 started shipping in November 2015, and sales are rumored to be good. But we haven't heard from Apple yet.
Be sure to check in with TMO on later in the day on the 25th for our Q2 earnings report coverage and analysis. The live conference call should start just after 2:00 PM pacific time (5:00 PM eastern time).