Apple is reporting on their quarterly earnings on Tuesday, July 26 (American time). While traditionally the second quarter of the year is usually the worst for Apple, this year is looking to be worse than usual.
Last year during this quarter, Apple generated $49.6 billion in revenue. CEO Tim Cook says Apple will do $41 billion to $43 billion in revenue in the quarter this year.
Wall Street is primarily trying to figure our how many iPhones the world’s most valuable company has sold – because Apple could report it’s second straight quarter ever in which iPhone sales declined year over year. Apple sold 47.5 million iPhones last year during the same quarter.
Wall Street expects Apple to post $42.11 billion in revenue.