$80bn in revenue? Here's what Apple analysts are predicting for its Q3 earnings

iPhone event
iPhone event (Image credit: Apple)

What you need to know

  • Apple will hold its Q3 earnings call later today.
  • Analysts have given their revenue predictions, with one estimate a bullish $80bn.

On Tuesday Apple will announce its Q3 earnings results and host its quarterly earnings call, and Apple analysts are predicting another bumper set of numbers.

As always, Philip Elmer-DeWitt has compiled the predictions of major Apple analysts ahead of the announcement, which gives us a good idea of what we can expect.

At its last earnings call Apple itself told us that we can expect strong double-digit growth over Q3 of 2020, however a more pronounced sequential decline on its second quarter of 2021 because that quarter was inflated by the delay to the iPhone 12.

Overall, Apple analyst predictions are averaging out at $75.1 billion in revenue, which would be a hefty increase on Apple's $59.69 from the same time last year. 10 independent analysts on the whole were more bullish than their professional counterparts, averaging out their estimates at $77.21 billion and $73.41 billion respectively.

The most bullish estimate actually comes from our friend Neil Cybart at Above Avalon. Cybart consistently ranks amongst the top predictions and has been the most accurate on more than one occasion, however, he is the only analyst predicting that Apple will break the $80 billion mark with his revenue estimate. Cybart estimates $35 billion of this will come from iPhone, a further $10 billion each from the iPad and Mac, $16 billion from services, and $7.4 from wearables.

At the other end of the spectrum, surprisingly, is the notoriously bullish Dan Ives of Wedbush, who is predicting that Apple will only post $67.58 billion in revenue.

The disparity in analyst predictions comes from the varying methods of calculation each use, and there is a wide range of figures given. Apple's share price closed one cent short of the $149 mark on Monday, and is up ever so slightly in pre-market trading.

Apple's Q3 earnings call will take place a 2 pm PT/5 pm ET.

Stephen Warwick
News Editor

Stephen Warwick has written about Apple for five years at iMore and previously elsewhere. He covers all of iMore's latest breaking news regarding all of Apple's products and services, both hardware and software. Stephen has interviewed industry experts in a range of fields including finance, litigation, security, and more. He also specializes in curating and reviewing audio hardware and has experience beyond journalism in sound engineering, production, and design. Before becoming a writer Stephen studied Ancient History at University and also worked at Apple for more than two years. Stephen is also a host on the iMore show, a weekly podcast recorded live that discusses the latest in breaking Apple news, as well as featuring fun trivia about all things Apple. Follow him on Twitter @stephenwarwick9