Apple, which we argue is the second most important stock to the market (after world-eating Amazon), is about to announce its second quarter earnings. Investors are keenly awaiting the results. Interestingly, the most important part of the earnings may not be profits and losses but commentary on the status of the 10th anniversary iPhone 8. Current model iPhone sales will not be as much of a worry right now because everyone thinks losses on that front will result in sales of the new model. However, the company has not commented on the release of the new phone, which could be due out in September, so this earnings release will come under intense focus.
FINSUM: This is one of the few quarters when iPhone sales won’t be that meaningful. Much more interesting will be the company’s comments on the new model and how its services business is doing.