Apple CEO Tim Cook holds up the new iPhone 17 Pro during a special Apple event held at Apple’s headquarters in Cupertino, California, on September 9, 2025.
Justin Sullivan | Getty Images
apple will report its second-quarter results on Thursday, marking the first time the company has faced Wall Street since last week’s announcement that Tim Cook would step down as CEO after 15 years.
Here’s what investors expect, according to LSEG’s consensus estimates:
EPS: $1.95 Revenue: $109.7 billion
Wall Street is also keeping an eye on the following key areas:
iPhone revenue: $56.7 billion, estimated by StreetAccount Mac revenue: $8.16 billion, estimated by StreetAccount iPad revenue: $6.71 billion, estimated by StreetAccount Home wearables, home and accessories revenue: $7.8 billion, estimated by StreetAccount Services revenue: $30.4 billion, estimated by StreetAccount Gross margin: 48.4%
Analysts expect Apple’s revenue to rise 15% from $95.4 billion in the same period last year. The main driver is the iPhone, with Wall Street aiming for a 20% annual sales increase, largely due to the popularity of the iPhone 17, which was released last year.
In March, Apple announced a number of new products, including the iPhone 17e, a refreshed iPad Air laptop with an M4 chip in 11-inch and 13-inch sizes. But the biggest surprise was the $599 MacBook Neo, a low-cost laptop aimed at students and budget-conscious consumers.
Device sales will always be key to Apple’s performance, but what Wall Street is most interested in is what to expect from incoming CEO John Ternus. Apple announced last week that Ternus will succeed Cook, who will become executive chairman on September 1. Mr. Ternus has been an Apple executive for many years in charge of hardware.
One of the first things Ternus needs to figure out is where Apple is going with artificial intelligence. Earlier this quarter, Apple announced that it would partner with Google to use Gemini AI models to power its Siri product.
Apple has invested far less in AI technology than its peers meta, Amazon, alphabet and microsoftCollectively, they are spending well over $5 trillion on AI infrastructure this year.
Global memory shortages may also become a major topic of discussion during financial results announcements.
Apple’s devices, including the iPhone, Mac, and iPad, all use large amounts of storage and memory, raising questions about how the company plans to cope with rising memory prices due to AI demand. Meta and Microsoft announced Wednesday that rising memory prices contributed to projected increases in capital spending this year.
So far, Apple has been able to stave off significant price hikes on its major devices.
“Based on recent product announcements, we believe Apple has well-controlled memory costs,” Evercore ISI analysts said in a note this week.
WATCH: Bottlenecks can be a ‘healthy thing’ for the tech industry
