What to expect from Apple's Q1 2024 financial results?

The first quarter of fiscal 2024 was the last quarter of 2023. That's the strongest for any company that sells anything. This is of course because we have Christmas in it. But how did Apple do? It will be interesting to compare the analysts' forecasts with the actual numbers that Apple is expected to present later this evening. 

On January 8, Apple confirmed that on Thursday, February 1, 2024, it will hold its traditional call with investors about the profit for the last quarter. CEO Tim Cook and CFO Luca Maestri are scheduled to take part in the call, detailing the company's results in its strongest quarter yet to investors and analysts. 

Gallery

wwdc-tim-cook-rainbow

tim_cook_wwdc22_presentation

tim-cook-iphone-14-presentation-introduction

CEO-pay-Tim-Cook

Tim Cook fb preview

Tim Cook selfie

Apple's Tim Cook

Tim Cook 2005 Cult of Mac

Source: Cult of Mac

Tim Cook explains China

Steve Dowling Tim Cook WSJ

Steve Dowling and Tim Cook (Source: The Wall Street Journal)

Tim Cook surprise look

Key Speakers At The Apple Worldwide Developers Conference (WWDC)

Tim Cook, current CEO

Tim Cook fb

apple-october-keynote-tim cook

Decreasing trend 

Results for the 4th quarter of fiscal 2023 were somewhat mixed for the company, as it posted its fourth year-over-year decline in revenue in four consecutive quarters. Nevertheless, it still exceeded Wall Street's expectations. In it, Apple secured revenue of $89,5 billion, down from the $90,1 billion reported in Q4 2022. 

Revenues from the sale of iPhones in this period increased year-on-year from 42,6 billion to 43,8 billion dollars. This offset a decline in revenue from iPads, from $7,17 billion in Q4 2022 to $6,43 billion in Q4 2023. Macs also fell, from $11,5 billion to $7,61 billion, wearables on they were broadly the same ($9,32 vs. $9,65 billion), and services grew ($19,19 to $22,31 billion). 

But Apple knows that the outlook is not exactly rosy. He warned of a potential slowdown in wearables sales for Q1 2024, with the ban on Apple Watch sales in the post-Christmas period sure to cause the company a sizeable loss in revenue. We will also see how customers have received the iPhone 15 series. 

• Yahoo finance, based on opinions of 22 analysts, reports that Apple earned an average of $108,37 billion. 
• CNN Money offered its own data from a survey of analysts and forecast sales of $126,1 billion. 
• Morgan Stanley predicts $119 billion in sales. 
• SOCIETY Evercore said that Apple will reach $117 billion in revenue in the period under review. 
• Wedbush expects sales of $118 billion.