Apple will report its fiscal first quarter results tonight after the close. There is a conference call scheduled for 17:00 ET.

Earnings per share (EPS) are expected to be $2.35, up from last year's $2.18.

Revenue is forecasted at $124.3 billion, a 4% increase from last year.

Apple's Previous Guidance:

In the last earnings call, Apple predicted Q1 revenue would increase by a low to mid-single digit percentage. They expect services revenue to grow by double digits.

Gross margins are expected to be between 46-47%.

Since the start of the pandemic, Apple has moved away from specific revenue forecasts in press releases, offering more general insights during conference calls.

Highlight for This Quarter:

  • The launch of the iPhone 16, which happened towards the end of the last quarter, will be key. Also, interest is high in whether Apple Intelligence has boosted demand.

Revenue Expectations by Product:

  • iPhone revenue is expected to reach $71.0 billion, up from $69.7 billion last year.

  • Services revenue should hit $26.2 billion, compared to $23.2 billion last year.

  • Wearables are forecasted at $11.9 billion, slightly down from $12.0 billion.

TECHS:

Apple's market cap is $3.48 trillion, and its stock price is 31 times its FY25 earnings.

The options market suggests the stock could move about 5% in either direction by Friday, based on the current options pricing.

Suppliers to Watch: Keep an eye on companies like SWKS, CRUS, AVGO, QRVO, TSM, and QCOM, as they supply parts for Apple's products.

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