Apple will unveil its financial results for the period April-June 2024 tonight. Despite the launch of new products such as the iPad Pro M4 and the Vision Pro in new countries, Wall Street analysts are only expecting modest revenue growth of 2.3% on average compared to last year.
New products launched but no figures forecast
As usual, Apple did not provide revenue forecasts for the quarter. But the company stressed last May that it expected very good results from iPad sales and, as always, services. Several new products were also launched during the period:
- iPad Pro 11″ and 13″ with M4 chip
- iPad Air 11″ and 13″ with M2 chip
- Apple Pencil Pro
- MacBook Air 13″ and 15″ with M3 chip
- Vision Pro pre-orders in 8 additional countries including France
A turnover estimated at between 76 and 82 billion dollars
Experts’ forecasts range from $76.66 billion to $82.12 billion in revenue for the quarter. On the earnings side, the consensus is for earnings per share up from $1.18 to $1.24. Enough to remain cautiously optimistic about AAPL shares in the coming months. The answer will be given tonight at 10:30 p.m. Paris time.
These results will be closely scrutinized by investors to gauge Apple’s ability to maintain its growth momentum despite an uncertain economic context. The success of recent launches like the Vision Pro and the rise of services will be key indicators. If analysts’ forecasts are confirmed, this would show that Apple is holding up rather well despite a difficult economic context in tech. Apple is growing slowly but surely, as it has been doing for the past few quarters.