Apple Inc. (NASDAQ:AAPL) announced Monday of its plans to reveal its fiscal second quarter 2013 earnings in a conference call on April 23. The conference call, which is expected to be streamed, will include the iPhone maker’s revenue and sales figures. As has been the norm, CEO Tim Cook and CFO Peter Oppenheimer will provide the financial forecast for the next quarter.
Apple Inc. (NASDAQ:AAPL) had an impressive first quarter of 2013 with revenues of $54.5 billion and earnings of $13.1 billion on sales of 47.8 million iPhone and 22.9 million iPads. The iPhone sales in the last quarter were up 29 percent from the same period a year ago while the iPads sales grew by an impressive 48 percent year over year. For the last quarter, Apple Inc. (NASDAQ:AAPL) experienced a lower margins on the iPad mini that curtailed the revenue growth for the tablet line-up to 22 percent from the year ago quarter. The revenues, however, missed the Wall Street expectations of $54.7.
In January, the iPhone maker forecasted the revenues to be between $41 billion and $43 billion for the second quarter, which is well below the Wall Street’s expectations of $45.6 billion.
Last week, a report from Piper Jaffray forecasted Apple Inc. (NASDAQ:AAPL)’s stock to hit $767 target by the end of this year. The report also expected a 14 percent drop in earnings for the first half of the year. However, for the next half of the year, their earnings are expected to show a growth of 15 percent, due to the launch of several products.
With the kind of reputation that Apple Inc. (NASDAQ:AAPL) enjoys in the tech world, its earnings are a big deal for the sector. And these earnings will be all more important as its stock are trading at its 52 week low, and requires some big numbers to change the flow.
There is a general perception that since there is no single product coming from the company until the end of the quarter ending June this year, the earnings might decline for the second quarter. However, for the coming quarters it is expected to pick up. There are rumors that the ‘Retina display iPad Mini’ will be launched later this year; also, Apple Inc. (NASDAQ:AAPL) might come up with the most hyped smartphone – the iPhone 5S – in its annual worldwide developers’ conference in June. The iPhone maker is also expected to come up with a low-priced smartphone for developing countries, especially in India and China.
The conference call is scheduled to begin at 2 p.m. PT and will be streamed through the Apple Inc. (NASDAQ:AAPL)’s investor relations page.
