Analysts predict Q3 Apple revenue of between $49 and $55 billion

Apple issued no guidance for Q3 at its last earnings call.

What you need to know

• Apple will hold its Q3 earnings call later today.
• Analysts estimate earnings of between $49 and $55 billion.
• Apple released no guidance for Q3 at its last call due to COVID-19 uncertainty.

Apple analysts predict the company could report revenue of between $49 and $55 billion at its Q3 earnings call later today.

Philip Elmer-DeWitt has posted his customary predictions of all the top Apple analysts in advance of the call. These were there predictions:

Independent analysts estimate revenue of around $53 billion, with a range of $52-$55 billion depending on the analysts.

Whilst there's a bigger range of institutional analysts, overall they predicted a lover revenue estimate of $51.9 billion, ranging from $55 to $49 billion. Morgan Stanley's Kathryn Huberty was the most bullish with a prediction of $55.09 billion, including more than $24 billion in iPhone revenue and $13 billion in services.

Apple didn't give any Q3 earnings guidance at its last investor's call, but did offer some hints:

In the earnings call yesterday, Tim Cook said that Apple would not issue guidance for the coming quarter "given the lack of visibility and uncertainty in the near-term." He did note however that further ahead, Apple had a "high degree of confidence in the enduring strength of our business." He also noted that Apple's supply chain is "profoundly durable and resilient."

Notably, Apple expects iPhone and wearables performance to worsen in this quarter, but for Mac and iPad revenue to improve.

Apple's Q3 earnings call will take place later today, July 30 at 2 pm Pacific Time / 5 pm Eastern Time.

Despite antitrust scrutiny yesterday, AAPL shares rose nearly 2% to $380, however, are down slightly in pre-market trading.

Analysts predict Q3 Apple revenue of between $49 and $55 billion posted first on http://bestpricesmartphones.blogspot.com