Apple's Q3 Earnings Will Trend Lower On Sluggish iPhone And Mac Sales

Apple is scheduled to publish its fiscal Q3 results on Tuesday, July 26, reporting on another challenging quarter that is likely to see revenues and margins contract on a year-over-year basis amid sluggish iPhone and Mac sales. Apple has guided for revenues of between $41 billion and $43 billion for the quarter, with gross margins in the range of 37.5% to 38%. Below we provide some of the key trends to watch when Apple publishes earnings. We have a $123 price estimate for Apple, which is close t...