Apple Eyes $109.7B Q2 Revenue, 21.6% iPhone Growth
Apple will report Q2 results Thursday after the bell, its first since announcing SVP of hardware John Ternus as Tim Cook’s successor. Analysts forecast EPS of $1.96 on $109.66 billion revenue, driven by 21.6% iPhone growth to $56.97 billion, Services at $30.37 billion and Mac revenue of $8.13 billion.
1. Leadership Transition
Apple’s Q2 call will mark the first quarterly report since the company announced in September that SVP of hardware John Ternus will succeed Tim Cook as CEO. Investors will be keen to hear Ternus’s tone on product strategy and the company’s AI roadmap.
2. Q2 Earnings Expectations
Wall Street consensus expects earnings per share of $1.96 on revenue of $109.66 billion, up from $1.65 and $95.35 billion in the year-ago quarter. The forecast follows a record Q1 driven by robust iPhone and services demand.
3. Segment Revenue Forecasts
iPhone revenue is projected at $56.97 billion, a 21.6% year-over-year increase, while Services are expected to reach $30.37 billion. Mac revenue should hit $8.13 billion, bolstered by strong Mac mini sales and the new $599 MacBook Neo.
4. Memory Shortage and Margins
A global memory shortage tied to AI data center build-outs has driven component costs higher, posing potential margin pressures. Investors will watch management’s commentary on supply constraints and cost mitigation measures.