Apple’s sales for last quarter expected to be flat
Analysts polled by Fortune are eyeing sales of $43.5 billion on average, virtually unchanged from the same quarter last year.
Apple is unlikely to show any sales growth when it reports second-quarter results on Wednesday. At least, that's the take from a collection of 37 different analysts.
Polling analysts for their predictions on Apple's second fiscal quarter, which ended in March, Fortune found an average revenue estimate of $43.5 billion. That forecast is actually a bit lower than the $43.6 billion in sales that Apple reported during last year's second quarter.
Apple's own guidance for its second quarter calls for revenues of between $42 billion and $44 billion. Announced by Apple in January, that news actually sent the stock tumbling as analysts had initially been expecting revenues of $46 billion.
As noted by Fortune, the analysts polled have since lowered their expectations to keep them more in line with Apple's guidance.
Among specific analysts who released investor notes on Monday, Piper Jaffray's Gene Munster is looking for revenues close to $44 billion, while Wells Fargo's Maynard Um expects $44.3 billion. But Um sees a bit of risk to his prediction based on potentially lower sales of the iPhone and iPad.
Carriers have been getting stricter about enforcing a full 24-month upgrade cycle for smartphone contract customers. The tighter restriction likely hampered iPhone sales during Apple's first fiscal quarter, according to Um. And though the analyst believes the second quarter may benefit from the stricter upgrade cycle, he said Wells Fargo was still cautious about its sales forecast of 39 million iPhones and 21 million iPads.
Apple shares rose .7 percent, or about $4.00, to $528.94 in early trading on Monday.