Apple's Earnings Report Today to Reveal COVID-19's Impact on iPhone Sales
Apple will report its financial results for the second quarter of its 2020 fiscal year at 1:30 p.m. Pacific Time today, providing a first look at how the company's sales have been affected by the global health crisis.
On February 17, Apple announced that it no longer expected to meet its March quarter revenue guidance due to COVID-19's impact on the iPhone supply chain and demand for its products in China. The virus has since become a global pandemic, with all Apple Stores outside of China and Korea remaining closed.
Apple's letter to shareholders at the time:
Our quarterly guidance issued on January 28, 2020 reflected the best information available at the time as well as our best estimates about the pace of return to work following the end of the extended Chinese New Year holiday on February 10. Work is starting to resume around the country, but we are experiencing a slower return to normal conditions than we had anticipated. As a result, we do not expect to meet the revenue guidance we provided for the March quarter…
Apple had forecasted revenue between $63 billion and $67 billion for the quarter, which ran December 29 through March 28. On average, analysts now expect that figure to be approximately $54.5 billion, down six percent from $58 billion in the year-ago quarter.
The second quarter encompassed the launch of new iPad Pro and MacBook Air models, which became available to order on March 18.
Apple CEO Tim Cook and Apple CFO Luca Maestri will review the financial results on a conference call at 2:00 p.m. Pacific Time, with a live stream on Apple's website. MacRumors will be providing detailed coverage of the remarks.
Popular Stories
iOS 19 will not drop support for any iPhone models, according to French website iPhoneSoft.fr. The report cites a source within Apple.
The report said that iOS 19 will be compatible with any iPhone that is capable of running iOS 18, which would mean the following models:
iPhone 16
iPhone 16 Plus
iPhone 16 Pro
iPhone 16 Pro Max
iPhone 15
iPhone 15 Plus
iPhone 15 Pro
...
Apple earlier this month released macOS 15.2, and in doing so it accidentally confirmed new MacBook Air models coming next year.
Apple accidentally released macOS 15.2 restore files for unreleased "MacBook Air (13-inch, M4, 2025)" and "MacBook Air (15-inch, M4, 2025)" models. While it no surprise that the 13-inch and 15-inch MacBook Air models were going to be updated with the M4 ...
It's looking like 2025 is going to be an important year for Apple, with the company planning to revamp the iPhone, push further into smart home products, and improve Apple Intelligence. There are tons of new products rumored for 2025, including new iPhones, M4 Macs, a smart home command center, and much more.
We've highlighted the top five Apple products that will have the biggest impact in...
Apple appears to be internally testing iOS 18.2.1 for the iPhone, based on evidence of the software update in our website's analytic logs this week. The logs have accurately revealed many iOS versions before they were released.
iOS 18.2.1 should be a minor update that fixes bugs and/or addresses security vulnerabilities, but it is unclear which specific issues might be resolved. The update...
Apple plans to release a new "HomePod" with a 7-inch LCD display, an A18 chip, and Apple Intelligence support in 2025, according to DigiTimes.
Google's Nest Hub
It is unclear how much the screen-equipped HomePod would cost, but Apple is seemingly aiming for a reasonable price. In a paywalled report this week, the supply chain publication said Apple has selected China-based manufacturer Tianma ...
This year, Apple tweaked iPhone 16 Pro screen sizes to make them bigger than 2023's iPhone 15 Pro models, and next year we are also expecting a change in the size of the displays in the iPhone 17 lineup. Here's what we know.
Standard iPhone 17
Apple could introduce a new display size for the standard iPhone 17 model in 2025. The iPhone 17 could measure in at 6.3 inches, up from 6.1 inches,...
While the iPhone 18 Pro and iPhone 18 Pro Max are still nearly two years away from launching, a new feature has already been rumored for the devices.
In a blog post today, Apple supply chain analyst Ming-Chi Kuo reiterated that the main rear camera on both iPhone 18 Pro models will offer variable aperture, which would be a first for the iPhone. The main camera refers to the 48-megapixel...
The current Apple TV 4K was released more than two years ago, so the streaming device is becoming due for a hardware upgrade soon. Fortunately, it was recently rumored that a new Apple TV will launch at some point next year.
Below, we recap rumors about the next-generation Apple TV.
Bloomberg's Mark Gurman last week reported that Apple has been working on its own combined Wi-Fi and...
