Apple is set to report its earnings results for the first quarter of its 2023 fiscal year on January 27, 2023, at 1:30 p.m. Pacific Time. CEO Tim Cook and CFO Luca Maestri will then hold a conference call for investors a half hour later. Here are some key things to note about the quarter.
New Releases During Quarter
During Apple's fourth quarter, the following products were released:
11-inch iPad Pro (4th generation) and 12.9-inch iPad Pro (6th generation)
iPad (10th generation)
Apple TV 4K (3rd generation)
iPhone 14 Plus (pre-orders began in September)
Likely First Revenue Decline Since 2019
On average, Apple is estimated to report revenue of $121.2 billion for the quarter, according to Yahoo Finance. This would be down around 2% from $123.9 billion in the year-ago quarter and would be the first revenue decline for Apple since 2019.
In November, Apple warned investors about potential iPhone 14 Pro supply constraints due to COVID-19 restrictions at its primary assembly facility in Zhengzhou, China. The company noted that customers would experience longer wait times for their new products.
Conference Call
Apple's CEO Tim Cook and CFO Luca Maestri will hold a conference call at 2:00 p.m. Pacific Time on February 2, 2023, to discuss the company's first-quarter earnings results. The call should be around one hour long 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 for review.
Investors will be listening for any potential commentary surrounding the economy as concerns persist about a recession in the U.S. and other countries.
What's Next
Apple's second fiscal quarter has already seen orders for updated 14-inch and 16-inch MacBook Pro models, updated Mac mini models, and a new HomePod.
Apple has not provided guidance since the start of the COVID-19 pandemic, but analysts currently expect Apple to post sub-1% year-over-year growth in Q2 2023.
AAPL is currently trading slightly below $146, down around 29% from a 52-week high of $179.61.