What to Expect From Apple's Earnings Report Tomorrow Following iPhone 15 Launch

by

Apple will report its earnings results for the fourth quarter of its 2023 fiscal year on Thursday, November 2 at 1:30 p.m. Pacific Time. Apple's CEO Tim Cook and CFO Luca Maestri will discuss the results on a conference call with analysts a half hour later.

iPhone 15 Pro lineup
Keep reading for some key things to know about the quarter, including a recap of new products announced, revenue expectations, and more.

New Products During Quarter

The quarter ran from ran from July 2 through September 30, according to Apple's fiscal calendar, and included the following product launches:

  • iPhone 15, iPhone 15 Plus, iPhone 15 Pro, and iPhone 15 Pro Max
  • Apple Watch Series 9 and Apple Watch Ultra 2
  • AirPods Pro with USB-C charging case and EarPods with USB-C connector

Revenue Expectations

Apple has not provided formal revenue guidance since the start of the COVID-19 pandemic, but Wall Street expects the company to report revenue of $89.28 billion in the fourth quarter, according to CNBC. This would be around a 1% decline compared to the $90.15 billion revenue the company reported in the year-ago quarter.

Maestri provided the following commentary on Apple's earnings call last quarter:

We expect our September quarter year-over-year revenue performance to be similar to the June quarter, assuming that the macroeconomic outlook doesn't worsen from what we are projecting today for the current quarter.

Conference Call

Cook and Maestri will hold a conference call at 2:00 p.m. Pacific Time on Thursday to discuss the company's fourth quarter earnings results. The call should last around one hour and will include a Q&A segment with analysts.

A live audio stream of the conference call will be available on Apple's Investor Relations page, and a recording will be available later in the day for replay.

What's Next

Apple's first quarter of fiscal 2024 began October 1 and runs through December 30. So far during this period, new products announced by Apple include a lower-priced Apple Pencil with a USB-C port, an updated iMac with the M3 chip, and updated 14-inch and 16-inch MacBook Pro models with M3, M3 Pro, and M3 Max chips.

AAPL closed at $173.97 today, down from a 52-week high of $198.23.

Tags: AAPL, Earnings

Popular Stories

iPhone 17 Pro Blue Feature Tighter Crop

iPhone 17 Pro Launching Later This Year With These 13 New Features

Wednesday April 23, 2025 8:31 am PDT by
While the iPhone 17 Pro and iPhone 17 Pro Max are not expected to launch until September, there are already plenty of rumors about the devices. Below, we recap key changes rumored for the iPhone 17 Pro models as of April 2025: Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone ...
Read Full Article
iphone 17 dummies sonny dickson

iPhone 17 Air Almost as Thin as Its Buttons, New Images Show

Thursday April 24, 2025 2:14 am PDT by
If you missed the video showing dummy models of Apple's all-new super thin iPhone 17 Air that's expected later this year, Sonny Dickson this morning shared some further images of the device in close alignment with the other dummy models in the iPhone 17 lineup, indicating just how thin it is likely to be in comparison. The iPhone 17 Air is expected to be around 5.5mm thick – with a thicker ...
Read Full Article • 109 comments
iphone 17 air dummy unbox therapy

iPhone 17 Air's Extreme Thinness Demoed in New Video

Tuesday April 22, 2025 10:22 am PDT by
Apple plans to release an all-new super thin iPhone this year, debuting it alongside the iPhone 17, iPhone 17 Pro, and iPhone 17 Pro Max. We've seen pictures of dummy models, cases, and renders with the design, but Lewis Hilsenteger of Unbox Therapy today showed off newer dummy models that give us a better idea of just how thin the "iPhone 17 Air" will be. The iPhone 17 Air is expected to be ...
Read Full Article • 164 comments
AirPods Pro 3 Mock Feature

AirPods Pro 3 Just Months Away – Here's What We Know

Friday April 18, 2025 5:16 am PDT by
Despite being more than two years old, Apple's AirPods Pro 2 still dominate the premium wireless‑earbud space, thanks to a potent mix of top‑tier audio, class‑leading noise cancellation, and Apple's habit of delivering major new features through software updates. With AirPods Pro 3 widely expected to arrive in 2025, prospective buyers now face a familiar dilemma: snap up the proven...
Read Full Article • 102 comments
iPhone 17 Air Pastel Feature

iPhone 17 Air Launching Later This Year With These 16 New Features

Thursday April 24, 2025 8:24 am PDT by
While the so-called "iPhone 17 Air" is not expected to launch until September, there are already plenty of rumors about the ultra-thin device. Overall, the iPhone 17 Air sounds like a mixed bag. While the device is expected to have an impressively thin and light design, rumors indicate it will have some compromises compared to iPhone 17 Pro models, including only a single rear camera, a...
Read Full Article • 81 comments
ipad air windows 11 arm

M2 iPad Air Runs Windows 11 ARM via Emulation, Thanks to EU Rules

Tuesday April 22, 2025 5:01 am PDT by
A developer has demonstrated Windows 11 ARM running on an M2 iPad Air using emulation, which has become much easier since the EU's Digital Markets Act (DMA) regulations came into effect. As spotted by Windows Latest, NTDev shared an instance of the emulation on social media and posted a video on YouTube (embedded below) demonstrating it in action. The achievement relies on new EU regulatory...
Read Full Article • 102 comments
Global Close Your Rings Day Pin

Apple Stores Giving Away a Limited-Edition Pin For Free Today

Thursday April 24, 2025 10:15 am PDT by
Starting today, April 24, Apple Stores around the world are giving away a special pin for free to customers who request one, while supplies last. Photo Credit: Filip Chudzinski The enamel pin's design is inspired by the Global Close Your Rings Day award in the Activity app, which Apple Watch users can receive by closing all three Activity rings today. The limited-edition pin is the physical...
Read Full Article • 72 comments
Apple Logo Spotlight Blue

White House Hits Back at Apple's Massive EU Fine

Thursday April 24, 2025 5:57 am PDT by
Apple's $570 million fine from the EU has triggered a sharp rebuke from the White House, which called the fine a form of economic extortion, Reuters reports. The fine was announced on Wednesday by the European Commission, following a formal investigation into Apple's compliance with the bloc's Digital Markets Act (DMA), a landmark piece of legislation aimed at curbing the market dominance of ...
Read Full Article • 210 comments

Top Rated Comments

Think|Different Avatar
Think|Different
19 months ago
$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Score: 20 Votes (Like | Disagree)
klasma Avatar
klasma
19 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
Can I sell you my AAPL stock for $300? Should still be a huge bargain for you.
Score: 15 Votes (Like | Disagree)
Karma*Police Avatar
Karma*Police
19 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
So a company that is trading at 30x earnings with (at best) single digit growth and possibly negative growth next year with no catalyst for growth in sight is undervalued?? How do you figure?

Oh wait, I forgot this is a MacRumors forum. Never mind.
Score: 13 Votes (Like | Disagree)
ScottishDuck Avatar
ScottishDuck
19 months ago
I’m going to predict they made a lot of money and have more cash reserves than most of the G7 nations.
Score: 13 Votes (Like | Disagree)
bobdobalina Avatar
bobdobalina
19 months ago

$AAPL is wayyyy undervalued. Stock should be hovering around $500, easily.
You think the fair value would be 80 times earnings? Apple's PE ratio is currently 28. I don't think it's undervalued.
Score: 9 Votes (Like | Disagree)
sw1tcher Avatar
sw1tcher
19 months ago

No catalyst? What about 73% margin services? India and Southeast Asia? Apple Silicon besting the competition? Spatial Computing Vision Pro? After seeing the mindblowing Vision Pro imagine what the Apple Car will be like? No catalyst? Please
How will any of those things help them to return to revenue growth and massively boost their foward EPS by more than double current forward estimates?

For Apple to be at $500 and with their current foward PE of 28.71, Apple would have to bring in $17.41 in earnings per share for FY2023. That's almost 3x their current FY2023 estimate.
Score: 9 Votes (Like | Disagree)
Read All Comments