Apple is set to announce its fiscal third-quarter results after the market closes.
Expect earnings per share of $1.89 and total revenue of approximately $108.65 billion.
This will be Tim Cook’s final earnings call as Apple’s CEO before transitioning leadership to John Ternus on September 1. The company’s stock is nearing a record high, having increased 24% so far this year, outperforming many of its major peers.
Revenue is expected to have grown by 16% compared to the previous year, rising from $94 billion to around $108.65 billion.
Apple is currently dealing with a global shortage of memory and chips, which Cook recently described as a “hundred-year flood.”
This demand surge has already prompted the company to raise prices on Macs and iPads. While there has been no official announcement about iPhone price hikes, many analysts believe prices may increase later this year.
In addition, Apple is preparing to launch a redesigned Siri, utilizing Google technology, alongside new iPhone models expected in September.
This release will be a key test for the company amid ongoing concerns that it may be lagging behind in artificial intelligence development.
Source (CNBC)
