AAPL Earnings Preview: Blockbuster or Bust?
Shares of AAPL are up minimally on Monday, perhaps a sign of subtle confidence ahead of the company's earnings report, which will be released after the close of trading on Wall Street this afternoon.
Most analysts are focusing on iPhone sales today, curious as to the strength of sales logged by Apple's popular touchscreen smartphone for the most recent quarter ending in September 2013.
Apple is widely expected to report 33 million iPhone sales for the quarter, which would represent a handsome increase over the 26.9 million iPhones sold during the same quarter last year.
So far, Apple has only provided limited clues about iPhone sales since last month. Following the launch of Apple's iPhone 5s and iPhone 5c, the company admitted to selling nine million units in the opening weekend of sales. Since then, however, sales data has been less forthcoming than news of rampant supply shortages of the iPhone 5s, which could have weakened sales near the end of the quarter.
With regard to the iPad, Apple is projected to have sold 15 million units for the quarter. That is largely consistent with the sales recorded in the same quarter one year ago.
MMi will bring you complete coverage of Apple's earnings after the report is published later this afternoon.