Third quarter report nears, Apple's performance gloomy

July 20
11:22 AM 2013

With a new product cycle currently in Apple's pipeline, strengthened expectations by consumers will push the company's stocks to even greater lengths, analysts speculated.

Nearing its third quarter earnings report next Thursday, financial analysts predict that the tech giant will reproduce its second quarter showing. Revenue of the company is expected to fall, and year-over-year numbers may also be underwhelming, said analysts.

Brian White, a senior analyst at Topeka Capital Markets said that even if the outlook is terrible and the quarter reports are not exactly as expected, people in the industry should be 'forgiving'.

"People have been unforgiving, but we have to be forgiving because you are going to have a new product cycle that starts and when they give guidance they won't put that in, they don't want to tell, they don't want to reveal too much," he said.

The projection for the third quarter averages at US$7.31 per share on average from a total revenue of US$35.09 billion, according to Thomson Reuters' poll.

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