Apple reports fiscal fourth-quarter earnings after the closing bell on Thursday.
The company is expected to report revenue of $94.36 billion.
Apple's stock is up about 19% in 2024.
Apple is set to report its fiscal fourth-quarter earnings after the market close, and investors are eager to see the results.
Apple is the largest company in the world, as measured by market value, and its earnings could have a sizable impact on the broader market.
Apple's earnings results can have knock-on effects for the many public companies that supply it with components for its iPhones, iPads, and Mac computers, and investors will also extrapolate what Apple's results could mean for consumer health.
With this quarter's results containing only two weeks of sales for Apple's new iPhone 16 lineup, analysts will be laser-focused on the company's guidance for the upcoming holiday season, which has historically been its strongest period of the year.
Any guidance from Apple CEO Tim Cook on the impact its AI features are having on iPhone demand will also be a key item to listen for.
Apple stock is up about 19% year-to-date, slightly behind the S&P 500's gain of about 22%.
Check back for live updates on Apple's earnings results throughout the day. The company will report results at 4:30 p.m. ET.
Wedbush expects iPhone 16 strength to catapult Apple to $4 trillion valuation
Wedbush analyst Dan Ives isn't budging from him bullish view on Apple heading into the company's financial results.
He argues that the iPhone is on the verge of a supercycle as consumers upgrade their devices to get access to Apple Intelligence features, and Apple will become the first $4 trillion company in 2025.
"We expect a strong iPhone performance for the September quarter and expect a relatively bullish December iPhone demand commentary from Cook & Co. despite many of the bears recently yelling fire in a crowded theater on the strength of iPhone 16 sales," Ives said in a note on Sunday.
Ives says that bearish views on Apple fail to appreciate its installed base of 1.5 billion iPhones that will eventually need to be replaced, as well as the growing Services business that helps monetize the massive user base, and the potential for Apple to be the gatekeeper of AI technologies for a large group of consumers.
Wedbush rates Apple at "Outperform" with a $300 price target.
JPMorgan expects Apple to beat results but offer underwhelming guidanceAn Apple Store in Towson, Maryland.
Andrew Harnik via Getty Images
JPMorgan expects Apple to report a strong fourth-quarter earnings report that will likely beat revenue and profit estimates but that it will also disappoint with weaker-than-expected guidance for the holiday quarter.
"Sell-through for iPhone 16 series started off slower than iPhone 15, and while momentum has improved in recent weeks, the magnitude of the improvement is still putting volumes modestly below last year," JPMorgan analyst Samik Chatterjee said in a Monday note.
Like many analysts on Wall Street, Chatterjee is looking for evidence that AI features will drive a bump in iPhone sales.
JPMorgan rates Apple at "Overweight" with a $265 price target.
Apple's consensus fourth-quarter revenue estimate is $94.36 billion.
4th quarter
Revenue estimate: $94.36 billion
Products revenue estimate: $69.15 billion
IPhone revenue estimate: $45.04 billion
Mac revenue estimate: $7.74 billion
IPad revenue estimate: $7.07 billion
Wearables, home and accessories estimate: $9.17 billion
Service revenue estimate: $25.27 billion
Greater China rev. estimate: $15.8 billion
EPS estimate: $1.60
Adjusted EPS estimate: $1.60
Operating cash flow estimate: $34.66 billion
Total operating expenses estimate: $14.35 billion
Gross margin estimate: $43.44 billion
Cash and cash equivalents estimate: $26.04 billion
Cost of sales estimate: $50.81 billion
Total current assets estimate: $145.08 billion
Total current liabilities estimate: $139.88 billion