AAPL Q1 2023 earnings expected to be down; supply constraints

The AAPL Q1 2023 earnings call is scheduled for 2 pm PT/5 pm ET, when the iPhone maker will reveal the key numbers for the all-important holiday quarter: Oct-Dec 2022.

As has been the case since the start of the pandemic, Apple has not offered any guidance on what to expect, so we’re left with analyst estimates for now – and they are not optimistic…


Apple’s previous earnings report was in October of last year, when the company reported its numbers for the July to September period – including the launch of the iPhone 14 line-up, albeit only a few days’ worth of sales.

That was a generally good quarter for Apple, with the iPad the only category to see a fall in revenue:

  • iPhone: $42.63 billion (Up 9.8% YOY)
  • Mac: $11.51 billion (Up 25.4% YOY)
  • iPad: $7.17 billion (Down 13.1% YOY)
  • Wearables, home, and accessories: $9.65 billion (Up 9.8% YOY)
  • Services: $19.19 billion (Up 5% YOY)

Analysts were pretty much on the money, with total product revenue of $70.96B against estimates of $69.04B.

AAPL Q1 2023 earnings expectations

The holiday quarter is normally a big deal for Apple. It combines the bulk of sales of its latest iPhone line-up, with the additional boost of people buying a range of Apple products as gifts.

This time around, however, the company has been struggling to meet demand, thanks to continuing component shortages. High inflation and layoffs also dampened consumer enthusiasm for discretionary spending on expensive technology, so expectations are more muted.

Indeed, PED30 reports that the consensus among analysts is for total revenue of $122.85B, more than $1B down on the previous year’s $123.95.

Independent analysts are more optimistic at $123.04, while the pros forecast $121.77B, but any way you slice the numbers, there’s a consensus that this quarter isn’t going to be anything to write home about.

We’ll of course bring you the actual AAPL Q1 2023 earnings numbers as soon as they are announced. You can also join us in listening to the live conference call immediately afterwards.

Photo: Apple Pacific Center, Vancouver

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Naveen Kumar

Friendly communicator. Music maven. Explorer. Pop culture trailblazer. Social media practitioner.

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