Apple Inc. (NASDAQ:AAPL)’s iPhone 6 is expected to be launched later this year in two different sizes. As rumors build up around the 4.7-inch and 5.5-inch iPhone 6, consumers are waiting for the upcoming big screen device rather than buying the existing smartphones. And that’s likely to affect Apple’s second quarter results. The tech giant will be reporting its Q2 results on Wednesday, April 23 after the bell.

iPhone 6

Consumer interest for the iPhone 6 rises to record high

Brian Marshall, an analyst at ISI Group, said in a research note that many consumers are holding out for the iPhone 6 before they upgrade their devices. Therefore, Apple Inc. (NASDAQ:AAPL) is likely to report unimpressive quarterly results. Marshall has a Buy rating on the stock with $600 price target. ISI Group estimates Apple to report $9.75 in EPS and $42.7 billion in sales. 

Wall Street expects Apple Inc. (NASDAQ:AAPL)’s Q2 revenues to come in at $43.53 billion, showing a slight decline from $43.6 billion in the same quarter last year. Earnings are expected to inch up 1% to $10.18 per share. Apple’s own guidance calls for $42-$44 billion in Q2 revenues. The tech giant sold a record 51 million iPhones and 26 million iPads during the first quarter of FY2014. The company had shipped 37.4 million iPhones and 19.53 million iPads in Q2 of 2013. But for the latest quarter, the Street predicts iPhone sales of 37 million units and iPad sales of about 19.5 million, despite the crucial deal with China Mobile Ltd. (NYSE:CHL) (HKG:941).

iPhone 6 features

Analysts and supply chain sources have reiterated that Apple Inc. (NASDAQ:AAPL) will launch two larger iPhone 6 models later this year. The 4.7-inch version is likely to be announced in September, while the phablet 5.5-inch model is expected to hit the markets by November this year. KGI Securities analyst Ming-Chi Kuo says that the 4.7-inch iPhone 6 will be fit for one-handed use. And the 5.5-inch version will meet the demand of those who prioritize visual experience over one-handed operation.

Kuo says both models of the iPhone 6 will sport A8 processor, iOS 8, 1GB RAM, NFC integration, Touch ID and a narrower bezel by 10%-20%. Thickness of the new device will be reduced from 7.6mm for the iPhone 5S to 6.5-7mm. The phablet version of the iPhone 6 will have a larger battery to power the bigger screen. And the sleep/wake button will be moved from the top to the side of the smartphone.

Apple Inc. (NASDAQ:AAPL) shares fell 0.26% to $530.33 in early trading session on Wednesday.