May 2, 2017

What to expect from Apple's earnings

Paul Sakuma / AP

In many ways this tends to be one of Apple's least telling quarters. The new iPhones are still several months out and the old ones have been on the market for a while. Nonetheless, here's our cheat sheet for Apple, which reports earning after the close on Tuesday.

The numbers: Apple tends to exceed estimates. Here's what Wall Street is expecting, according to Zacks Investment Research.

  • Per-share earnings: $2.01, unchanged from last year (Zacks)
  • Revenue: $52.6 billion (Zacks)

What I'm looking for: The main thing I am looking for is "the one sentence." By that, I mean that one line Apple sometimes gives on a new area. "TV is a hobby," was an early example of this. I want to know what Apple has to say, for example, about cars.

I wouldn't be surprised to hear Apple CEO Tim Cook say a teensy bit more about Apple's car effort. I'm not talking a roadmap or anything, but now that its permit to test self-driving cars is public, I think he might try to set some expectations.

What I don't expect: I'd be surprised to hear Apple share any expectations around the next iPhone. It's just too soon. Even if it already expects shipments of the high-end model to be limited, it's likely to wait until next quarter to say so, and usually things are in too much flux at this point anyway.

The noise: Expect the media to make a lot about Apple's cash balance. Yes, $250 billion is a lot but so was the $249 billion the day before they crossed that threshhold. I'm not even all that interested about if they are able to repatriate. I am VERY interested the day they start to use that massive stockpile.

Go deeper

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 1 a.m. ET: 664,695 — Total deaths: 30,847 — Total recoveries: 140,156.
  2. U.S.: Leads the world in cases. Total confirmed cases as of 1 a.m. ET: 124,464 — Total deaths: 2,191 — Total recoveries: 1,095.
  3. Federal government latest: President Trump announces new travel advisories for New York, New Jersey and Connecticut, but rules out quarantine enforcement. Per the CDC, residents of those states must now "refrain from non-essential domestic travel for 14 days," with the exception of critical infrastructure industry workers.
  4. State updates: Alaska is latest state to issue a stay-at-home order — New York is trying to nearly triple its hospital capacity in less than a month and has moved its presidential primary to June 23. Some Midwestern swing voters who backed Trump's handling of the virus less than two weeks ago are balking at his call for the U.S. to be "opened up" by Easter.
  5. World updates: In Spain, over 1,400 people were confirmed dead between Thursday to Saturday.
  6. 🚀 Space updates: OneWeb filed for bankruptcy amid the novel coronavirus pandemic.
  7. Hollywood: Tom Hanks and Rita Wilson have returned to U.S. after being treated for coronavirus.
  8. What should I do? Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

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Coronavirus updates: Global death toll tops 30,000

Data: The Center for Systems Science and Engineering at Johns Hopkins, the CDC, and China's Health Ministry. Note: China numbers are for the mainland only and U.S. numbers include repatriated citizens and confirmed plus presumptive cases from the CDC

The novel coronavirus has now killed more than 30,000 people around the world — with Italy reporting over 10,000 deaths, per Johns Hopkins data.

The big picture: The number of deaths from COVID-19 in the U.S. surpassed 2,000 on Saturday. The United States leads the world in confirmed coronavirus infections — more than 124,000 by late Saturday. The number of those recovered from the virus in the U.S. passed the 1,000-mark on Saturday evening.

Go deeperArrowUpdated 2 hours ago - Health

Trump rules out quarantine in New York, New Jersey, Connecticut after pushback

President Trump on the White House grounds on Saturdya. Photo: Sarah Silbiger/Getty Images

President Trump tweeted Saturday night that he's decided not to introduce quarantine enforcement measures fo New York, New Jersey and parts of Connecticut, but a "strong" travel advisory will be issued for those states. The CDC later announced domestic travel restrictions for the states.

Why it matters: Trump said hours earlier he was considering quarantine measures to combat the rise in novel coronavirus cases. But he received pushback, notably from New York Gov. Andrew Cuomo (D), who told CNN such a measure would cause "chaos." "This would be a federal declaration of war on states," Cuomo added.

Go deeperArrowUpdated 5 hours ago - Health