【UpcomingLive】Apple(APLE) Q3 Earnings Preview: What to Expect?

The Q3 $AAPL.US$ financial results are scheduled at 2:00 PM PDT/5:00 PM EST, July 30, 2020. Follow @moo_Live and stay updated!

The Apple stock has been one of this year's winners, rallying to a new all-time high near $400 recently before pulling back. As we get closer to the launch of a new generation of iPhones, this week's report will provide key clues as to whether or not the rally can continue in the near term.

Apple beat Street estimates for both its top and bottom line over the second quarter, which ended in March, posting sales of $58.3 billion and earnings of $2.55 per share. With analysts looking for a bottom line of $2 per share on sales of $51.5 billion, based on early Street estimates.

Apple Stores in the US went through another wave of temporary closures in late June, which will impact sales in the second quarter. but some headwinds would not be a surprise.

It is worth mentioning that Apple’s Mac sales are also expected to have been positively impacted by the remote working and learning wave. Per Gartner data, Apple saw its Mac shipment volumes expand 5.1% year over year in the second quarter.