Apple reports the results from its third fiscal quarter tomorrow, and the company is once again expected to surpass its own estimates.
Wall Street is expecting Apple to pull in $10.38 a share on revenue of $37.35 billion according to analysts polled by Thomson Reuters. By comparison, Apple forecast $8.68 a share on revenue of about $34 billion when it reported its second quarter earnings in April.
The numbers story remains in sales of the iPhone and iPad, Apple's two hottest gadgets, and the ones that are helping it rake in record profits. During Apple's last quarter, for instance, the iPhone and iPad accounted for $29.28 billion, or about 75 percent of the company's $39.18 billion in revenues.
Analysts overall expect Apple to have sold 29 million iPhones during the quarter. That's up when compared to 20.34 million iPhones the company sold during the same quarter last year, though down considerably from the 35.1 million it sold in its March quarter.
Savvy consumers, who have gotten wise to Apple's annual product upgrade and are expecting a new model this fall, may have held back on purchasing an iPhone during the quarter. That happened in the quarter that followed Apple's typical iPhone launch period last year with the belated iPhone 4S, which led to ... [Read more]
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