Apple will report its results on Tuesday, with spring typically being the tech giant’s least exciting season. Third-party consensus estimates expect an adjusted EPS of $2.19 on revenue of $52.34 billion. iPhone sales, Apple’s largest source of revenue, are estimated to hit 41.8 million units, up from 41 million in the same period last year. Investors will also look closely at revenue derived outside of iPhone sales, such as Apple’s Services division, which includes iTunes, AppleCare, Apple Pay, and Apple Music. Services constitute Apple’s second-biggest revenue generator, growing 31% to $9.19 billion in revenue last quarter, according to MarketWatch.
Chinese Internet company Baidu will also report after the close on Tuesday, with analysts expecting $2.61 EPS on revenue of $4.03 billion, compared to the year-ago quarter of $2.52 EPS on revenue of $3.29 billion. Baidu’s last quarter saw a 31% YOY increase in revenue and a 133% YOY increase in adjusted EPS. This quarter, investors will see if Baidu can achieve similar growth rates after its extensive investments into artificial intelligence technologies and online marketing services.
Tesla will announce earnings on Wednesday, with estimates of a per-share loss of $2.81 on $3.97 billion revenue, compared to the year-ago quarter of a per-share loss of $1.33 on $2.79 billion revenue. Much of the focus will be on if the car-manufacturer is on track to meet its Model 3 production targets. In April, Tesla announced that 34,494 vehicles were produced in the first quarter, an increase of 40%. On Wednesday, investors will know if the company was able to hit its target of 5,000 Model 3 vehicles produced weekly.
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