Why analysts are expecting a rough earnings report from Apple tonight
CNN
Even though Apple has silenced critics and beaten existential crises before, some fans of its minimalist products and investors in its maximalist stock are nervous.
Even though Apple has silenced critics and beaten existential crises before, some fans of its minimalist products and investors in its maximalist stock are nervous. Apple is set to report its second quarter earnings on Thursday after the bell. The numbers come at a time the company continues to grapple with growth challenges due in part to a sales slowdown in China and a customer base seemingly less interested in upgrading to its latest iPhone lineup. Analysts are expecting low sales figures for the quarter ending March 31 – despite the company beating expectations in the last four quarters. This will be its first earnings report since the launch of its biggest new product in years, its $3,499 mixed reality Vision Pro headset. Apple spent about $100 billion in research and development on the device, according to a recent analysis. The headset launched just as the extended reality (XR) market — a category that includes augmented, virtual and mixed reality — has plateaued with little mainstream consumer adoption. The Vision Pro had limited apps out of the gate but its experience is unmatched when it comes to watching immersive videos and interacting with the world around you, with buy-ins already from Hollywood studios and game developers. Still, it’s an expensive computer you wear on your face.
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