Apple to Announce Q3 2023 Earnings on August 3 Following New Macs
Apple has announced that it will report its earnings results for the third quarter of the 2023 fiscal year on Thursday, August 3. The report will be available at 1:30 p.m. Pacific Time, and Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts at 2:00 p.m. Pacific Time.
A live audio stream of the call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.
Apple launched three new Macs in the quarter, which ran from April 2 through July 1, including a 15-inch MacBook Air, an updated Mac Studio, and an updated Mac Pro. The quarter also saw the launch of the Apple Card savings account for U.S. residents.
Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but analysts currently expect the company to report revenue of around $81.5 billion this quarter on average, according to Yahoo Finance. This would be a decline of around 2% compared to the $83 billion revenue the company reported in the year-ago quarter.
Maestri provided the following commentary on Apple's earnings call last quarter:
We expect our June quarter year-over-year revenue performance to be similar to the March quarter, assuming that the macroeconomic outlook does not worsen from what we are projecting today for the current quarter.
AAPL is trading at around $188 as of writing, as shares approach a 52-week high of $194.48.
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Top Rated Comments
At first, the vibe to me was it was a stopgap for the mac pro.
Now it seems, except for a very slim portion of the market.... it IS the mac pro most had been waiting for.
Mac Pro and Mac Studio are serious content creation machines. The vast majority of consumers buy MacBook Air and that product alone likely outsells the desktops several thousand to one.
Mac Pro indeed got a stopgap upgrade, very useful to some but not yet the real thing. My expectation is that Apple will use the higher transistor densities of M3 to wow us with the next Mac Pro iteration. Probably some more chip architectural tricks to appease the folks who need lots of RAM. And substantially more graphics capability should be pretty straightforward on the ~3nm process.
Even though any version of MP is far beyond my needs, I will be very excited to see what the outstanding Apple engineers can build into the M3 MP.