Apple will announce its Q3 2020 financial results on Thursday, July 30, starting at 14:00 Pacific (17:00 ET). The highly anticipated event will illustrate how well Apple has weathered the coronavirus pandemic.
For the first time in over two decades, Apple did not issue any guidance for its forthcoming Q3 results. Traditionally, it issues such guidance for the next quarter during its call announcing the current ones, but this changed in 2020 and did so entirely because of COVID-19.
On average, analysts tracking Apple’s sales might expect the company to report $52.47 billion in this call. That compares to $58.3 billion in the second fiscal quarter of 2020, although traditionally Apple’s third fiscal quarter is the company’s weakest time in the year.
While the impact of COVID-19 and Apple’s efforts to reopen its Stores will the major factor affecting results overall, some of this is expected to be positive. What had been thought to be a temporary rise in MacBook Pro sales due to people beginning to work from home, has reportedly continued.
The call will also help provide an indication as to the success of Apple’snew iPhone SE.
“I have seen a strong customer response to iPhone SE, which is our most affordable iPhone,” said Apple CEO Tim Cook, while answering analysts’ questions. “[It] appears that those customers are primarily coming from wanting a smaller form factor with the lates technology, or coming over for it from Android.”
Stay tuned for additional details as they become available.
Via AppleInsider