Apple's third quarter results could hold the key to iPhone 12 launch date
Due to the impact of the COVID-19 pandemic, revenue is expected to fall by $2 billion in the third quarter. The company's sales were also affected in its fiscal second-quarter because of the outbreak and the wearables and services wing were the silver lining. The iPhone maker did not issue guidance for the fiscal third-quarter when it revealed second-quarter earnings because of the uncertainties posed by the coronavirus.
According to the estimates of Wall Street analysts, Apple will post revenue of $52.1 billion, nearly a 3 percent year-on-year decrease. Services are expected to remain a bright spot. Demand for some products might have gone up too because of remote work and learning.
Tomorrow's call will be more about what's to come
Overall, analysts are not too concerned about the third-quarter results and have branded it a "throwaway quarter."
Since the past few months, we have been listening to varied reports about the launch of the iPhone 12, with some leaks hinting at a delay. Some of the rumors had alleged that the coronavirus-related restrictions have disrupted the manufacturing process.
So, tomorrow, investors would want to find out if the handset is still on track and that the company is still making products.
If the Cupertino giant issues guidance that's low, it would be an indication that the iPhone 12 is getting delayed. On the other hand, if the guidance is seasonally higher when compared to the last few quarters, it would be a sign that the launch plans have not been disrupted because of the virus.
Is iPhone 12 the next big thing after the iPhone 6?
Before the coronavirus struck, Apple was reportedly hoping that the iPhone 12 would start a super cycle. Although most analysts believe this could still happen, some have cast their doubts. So, Apple's expectations for the next quarter will also help analysts determine whether the company still has high hopes for its new lineup.
A 5G supercycle will also help the manufacturer offset any pandemic-fueled impact on other units. Overall, market watchers seem quite optimistic about the iPhone 12 and believe it will be the most important product cycle Apple has seen since the release of the iPhone 6 in 2014.
This story is part of:iPhone 12 leaks (45 updates)
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