Apple Inc. Earnings: iPhone Release Date Confirmed?Author: Paul SheaLast Updated: April 20, 2020 Apple Inc. is set to unveil its earnings for the three months through June after the market closes for the day on Tuesday, August 1. In general, the stock market appears to be expecting a fairly tame quarter from the Cupertino phone maker.The big numbers to watch will be iPhone sales, and headline revenue and earnings. On top of that, there will be a lot of people waiting for some kind of revelation about the iPhone 8 release date in this afternoon’s report.Apple earnings live blog16:59 EDT: We’re going to be logging off to listen to the call. Thanks for tuning in!16:57 EDT: If you want to listen in on the call you can do so here:16:55 EDT: Heading into the conference call pretty soon. Tim Cook is probably going to want to talk a whole lot about the iPad. Going to be crickets on the iPhone 8 questions for certain.16:53 EDT: Interesting tidbit. Greater China revenue is now over $8 billion. Europe is only over $10 billion. Who is the US starting a trade war with again?16:52 EDT: As always, the Twitter attention span is shorter than you’d imagine possible. Call isn’t even starter and people are already looking for other stocks to play off of this report!16:49 EDT: Looks like shares are settling now up about 5 percent. Lets see if the call moves any of that. There really doesn’t seem to be any negatives in the numbers. A great achievement from Cupertino.16:47 EDT: Earnings call should start in a few minutes. This will be really interesting from Tim Cook. How will he handle the iPhone 8 questions. I can guess there’s going to be “no comment on future projects”16:46 EDT: First time in fourteen quarters that iPad sales saw an increase, according to the Wall Street Journal.16:44 EDT: Apple shares are now up more than 5 percent. This is a huge move for the “nothing quarter.16:42 EDT: A certain amount of the iPhone 8 delay rumors appeared to be coming from inside Cupertino itself. The iPhone is always rushed to production, this time somebody wanted the world to see the sausage getting made.16:40 EDT: Some outlets seem to be reporting this as a surprise on iPhone shipments. They’re wrong. This was about the iPhone 8 and guidance. iPhone sales in line.16:38 EDT: Yeah, looking at Wall Street’s estimates, it looks like that guidance for the fourth quarter means there is no iPhone 8 delay. Where were the rumors coming from then?16:37 EDT: Wow that’s an all time high for Apple stock. Incredible night for Tim Cook and the team. Let’s see how smug they are on the earnings call. There may still be some shocks in store yet!16:35 EDT: Shares are up more than 4 percent in after market trading. iPad sales came in at 11.42 million. there were 4.29 million Macs sold in the quarter.16:34 EDT: Guidance looks good too! $49B-$52Bsales seen in the next quarter. That looks like an iPhone 8 gamble number in truth!16:33 EDT: iPhone sales came in at 41 million. That’s dead on target from Apple .16:32 EDT: Apple earnings were on time and beat expectations. Miracles do happen!16:31 EDT: Here we go! Earnings at $1.67 Revenue at $45.4 billion.16:29 EDT: If the guesses are right, earnings will be here in a moment. Don’t hold your breath though, just for your own health.16:27 EDT: Keep in mind that short interest in Apple has fallen over the last couple of months. Seems like people are expecting iPhone sales to hold on for a while.16:25 EDT: Apple stock ended the day down up a sliver to just over $150.16:24 EDT: Apple earnings always get people crazy, but the iPhone 8 part of today’s extravaganza seems a little bit special.16:22 EDT: Tweet of the moment, if not the day.Best part of $aapl earnings is watching people wait for aapl earnings— Hope King (@lisahopeking) August 1, 201716:20 EDT: Still crickets. If you’re on Twitter though this is anything but a Quiet desperation. People are going crazy, even if they day these earnings aren’t important.16:18 EDT: What are all of the options traders doing out there? This is one of the riskier Apple earnings quarters I can remember.16:16 EDT: Still silent on the Apple IR website. At least they’ve got the servers to keep up with all the refreshing going on. If you want to add some stress, go here.16:15 EDT: A lot of speculation that earnings are arriving at 4:30 EDT. We’ve been down this road before people. Until the conference call arrives you can never be sure.16:13 EDT: We’re really digging deep into iPhone 8 release date stuff this quarter. What happens if Apple misses big, but guides for a Q3 release of the phone?16:11 EDT: Lots of people seem to be asking about technical strategies to play Apple earnings. There really aren’t any, and that’s assuming there’s tech strategies to play anything at all.16:10 EDT: Still waiting for a pip from Cupertino. The earnings call won’t be on until 5PM and Apple tends to like to drag it out.16:05 EDT: Just a recap, everything you’ll need is down the page. Wall Street consensus is EPS $1.57, Rev. $44.89 billion. iPhone shipments 40-41 million.16:00 EDT: The market is now closed. We’re likely to be sitting here for a while waiting for Apple earnings to come in. If you’re a trader, you won’t be able to take your eyes off the feed of course.Apple Inc. earnings expectationsWall Street is expecting Apple Inc. to show earnings of $1.57 per share by consensus on Tuesday. Keep in mind that Apple records the three months through June as its third quarter of fiscal year 2017. In last year’s third quarter th firm published earnings of $1.42 per share.Revenue is expected to come in at $44.89 billion. In the same three months of last year Apple managed to sell $42.36 billion of goods and services.The big number to watch, as always, will be sales of the iPhone. After the firm’s disappointing 2016, analysts will be looking for some kind of redemption in smart phone sales. The consensus number here is between 40 and 41 million unit shipments. Expect Wall Street to react if the real number ends up far on either side of that estimate.Apple stock rests on the iPhone 8Most Wall Street research houses seem to think that the iPhone 8 release date doesn’t matter for Apple stock. Time after time, in published reports, analysts have kept their price targets the same despite forecasting a delay in the rollout of the next generation device.We’re going to find out if that thesis holds true this afternoon. Tim Cook’s team will give its guidance for the three months ahead in the firm’s earnings report. If the third quarter looks light, Wall Street may react to confirmation of an iPhone 8 delay.Meanwhile, don’t expect the team from Cupertino to reveal anything concrete about its plans in this afternoon’s report. Though Wall Street watchers are always hoping that there’ll be some product plans in the earnings announcement, Apple Inc. very rarely gives anything like that away.Apple plans to host an earnings call at 5PM EDT to speak with investors and analysts about its second quarter. The firm has a reputation for being late with the actual release of numbers, so don’t expect Tim Cook to push the publish button too long before that.