Apple is set to report its financial results on July 30, with Wall Street forecasting that the company's revenue for the final full quarter under CEO Tim Cook will grow by approximately 16%.
Analysts project that Apple's fiscal third-quarter sales will approach $109 billion, a significant increase from the $94 billion recorded in the same period last year. The expected surge is largely attributed to the iPhone lineup, following the launch of the iPhone 17 Pro and Air models last year, which brought updated product designs.
The services segment is also anticipated to deliver another period of strong growth, while performance across other categories such as Mac, wearables, and iPad is likely to remain relatively stable.
Investors will also be monitoring the impact of ongoing memory chip shortages, a supply chain issue that has recently forced Apple to raise prices on several of its products.
On September 1, Apple hardware chief John Ternus will succeed Tim Cook as CEO. The upcoming earnings conference call on Thursday will mark Cook's final appearance in the CEO role.
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