Apple Inc. (AAPL) is set to report its fiscal second quarter earnings on Thursday, April 30, 2023. Analysts anticipate a nearly 15% year-over-year increase in sales to approximately $109.48 billion, with services revenue expected to rise 14% to over $30 billion. Earnings per share (EPS) are projected to increase 16% to $1.92, compared to $1.65 a year ago.
This earnings report comes amid significant leadership changes, as longtime CEO Tim Cook announced his retirement, effective September 2023, to be succeeded by John Ternus, Apple’s SVP of Hardware Engineering. Ternus has been with the company for 25 years, contributing to major product lines such as the iPad and iPhone.
Despite a strong historical performance, with 12 consecutive quarters of exceeding expectations, the Zacks Expected Surprise Prediction suggests possible challenges this quarter. The most accurate EPS estimate is at $1.90, indicating the potential end of the streak in surpassing earnings forecasts.
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