Apple was expected to report its revenue on Tuesday, July 23. Analysts seemed eager to plungingly revise their earnings and sales approximation. Over the last few weeks, losses from other tech giants such as Samsung, Blackberry and HTC helped drive the assessments down.

Brian White, Topeka Capital analyst, weighed his projection for the third quarter from US$36.52 billion to US$35.28 billion. However, the value were to some extent, ahead of US$35.09 billion average estimation by analysts. White also decreased his earnings projection for every Apple stocks from US$7.45 to U$7.37. This was still slightly above the average of US$7.31 for every stock.

"We are reducing our projections ahead of the print to reflect demand trends across Apple's portfolio and the timing of new product launches," White commented in a note written on July 22. "However, we believe it would be shortsighted for investors to place too much weight on near-term results as we believe a major new product cycle is in the works over the next 12-18 months."

White said that he expects to see a cheaper iPhone and the launching of iPhone 5s in the fourth quarter of this year. He further projected that the company would be able to sell 28 million units, down 25% from the second quarter's 37.4 million. However, the assessment was still higher than the 26 million unit old in 2012.