AAPL earnings Q2 2022: Analysts expect strong growth across the board (except iPads)

AAPL earnings for Q2 2022 (calendar Q1) will be announced by the company later today, and analysts are expecting the news to be good.

While professional analysts are more cautious than independent ones, all expect significant year-on-year growth almost across the board …

PED30 has collated a spreadsheet showing the consensus expectations of analysts for total revenue, as well as the anticipated breakdown by product category.

The bottom line is that analysts expect Apple to report total revenue of $95. 51B, against $89. 58B for the same quarter last year. That would represent growth of a little under 7%.

Analysts anticipate revenue growth for iPhone, Mac, and wearables (Apple Watch and AirPods). iPad is the only place they anticipate revenue falling year-on-year.

Services are forecast to be the biggest growth area, revenue expected to climb from $16. 9B in fiscal Q2 2021 to $20. 03B the same quarter this year.

Interestingly, noted Apple bulls Katy Huberty and Daniel Ives are not at the top end of this year’s forecasts – the latter actually being the most pessimistic at $90. 87B total revenue. The most optimistic of the institutions is JP Morgan, at $96.43B.

Apple itself once more refrained from offering any guidance for the quarter, again citing concerns over supply-side disruptions. The iPhone maker has warned that component shortages will yet again constrain product supply, but the company’s chief financial officer did suggest we should still be optimistic.

Apple CFO Luca Maestri said in January that the “very strong customer response to our recent launch of new products and services drove double-digit growth in revenue and earnings.”

As always, you’ll be able to tune into the earnings call live on Apple’s investor site, and we’ll of course be bringing you all the news as it happens.