Apple’s Results On July 30

Apple is due to report earnings on July 30 after the market closes. Consensus estimates are for revenue of $53B and EPS of $2.10 to be reported amid what is seen as steady global iPhone demand. Just ahead of the report, Apple snapped up Intel’s smartphone modem business in a deal scheduled to close in Q4 and was given a tariff warning by President Trump.

While backlash from Beijing or a move by Chinese consumers to buy more phones from domestic suppliers are still wildcards, analysts are largely bullish on Apple into the report with eyes on the strong capital return program, the ramping up of the services business and Apple’s cash optionality to make a strategic move.―Wall Street Brunch