<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Apple is scheduled to report its Q2 2020 earnings on Thursday, and rather than anticipating highs as usual, analysts and investors will be looking at how dramatically the coronavirus pandemic has hurt the tech giant.” data-reactid=”16″>Apple is scheduled to report its Q2 2020 earnings on Thursday, and rather than anticipating highs as usual, analysts and investors will be looking at how dramatically the coronavirus pandemic has hurt the tech giant.

Here are the numbers analysts are expecting as compiled by Bloomberg, and how the tech giant performed in the same quarter last year:

  • Revenue: $53.8 billion expected versus $58 billion in Q2 2019

  • Earnings per share: $2.23 expected versus $2.47 in Q2 2019

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Unlike other high-flying tech stocks, Apple (AAPL) has been especially susceptible to the supply chain disruptions caused by the virus, and the economic shock that has resulted. Apple pulled its initial guidance for Q2 in February as China extended its Lunar New Year holiday in an attempt to keep the coronavirus at bay, cutting off the engine of the iPhone maker’s supply chain.” data-reactid=”21″>Unlike other high-flying tech stocks, Apple (AAPL) has been especially susceptible to the supply chain disruptions caused by the virus, and the economic shock that has resulted. Apple pulled its initial guidance for Q2 in February as China extended its Lunar New Year holiday in an attempt to keep the coronavirus at bay, cutting off the engine of the iPhone maker’s supply chain.

Apple also shuttered its stores in mainland China to help stanch the spread of the virus, and didn’t reopen them until March. That same month, as the virus marched across the rest of the world, the company closed all of its stores with the exception of those in mainland China.

With Apple facing supply constraints, a major sales avenue for its devices closed, and a brewing economic collapse, analysts are predicting that sales of the company’s iPhone could be off by a wide margin compared to the previous year.

BofA Securities analyst Wamsi Mohan is modeling iPhone revenues off by 32% year-over-year in the quarter with total revenue of $46 billion.

21 April 2020, Berlin: The Apple Store on Kurfürstendamm, which is closed due to the Corona Ededemie. Photo: Jens Kalaene/dpa-Zentralbild/ZB (Photo by Jens Kalaene/picture alliance via Getty Images)21 April 2020, Berlin: The Apple Store on Kurfürstendamm, which is closed due to the Corona Ededemie. Photo: Jens Kalaene/dpa-Zentralbild/ZB (Photo by Jens Kalaene/picture alliance via Getty Images)
21 April 2020, Berlin: The Apple Store on Kurfürstendamm, which is closed due to the Corona Ededemie. Photo: Jens Kalaene/dpa-Zentralbild/ZB (Photo by Jens Kalaene/picture alliance via Getty Images)

Credit Suisse’s Matthew Cabral is calling for a less drastic decrease in iPhone sales for the quarter, predicting they’ll drop 14.6% year-over-year, but that the company’s third quarter will see a far greater deterioration in demand, falling 18.3%.

And while Apple launched its new $399 iPhone SE on April 24, it could end up cutting into sales of older units rather than building new demand.

“The newly launched iPhone SE comes at an attractive $399 starting price, but more likely results in cannibalized demand for older models within our installed base framework rather than significant net new units,” Cabral wrote in a note.

Estimates for Apple’s services and wearables businesses, however, point to year-over-year growth.

Apple’s services could be up as much as 17% year-over-year, according to Loop Ventures’ Gene Munster. Meanwhile, he predicted that the wearables business, which includes the company’s AirPods and Apple Watch, could be up as much as 24% year-over-year.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Still, Apple is expected to launch its next-generation iPhone, equipped with 5G cellular connectivity sometime in September, though availability could be delayed a month, according to The Wall Street Journal.” data-reactid=”41″>Still, Apple is expected to launch its next-generation iPhone, equipped with 5G cellular connectivity sometime in September, though availability could be delayed a month, according to The Wall Street Journal.

That model would carry Apple through the remainder of 2020, including the all-important holiday season, and into 2021. The inclusion of 5G has led analysts to predict a sales supercycle for the iPhone maker, with more consumers than normal deciding to upgrade their devices.

But whether those predictions still come to fruition relies on the economy coming back online, and people getting back to work before those phones hit the market.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The tech industry’s biggest names are reporting this week, with Google (GOOG, GOOGL) among the first to demonstrate how the pandemic and economic downturn have impacted its business. The company reported that ad sales slowed toward the end of March, and said the quarter was a “tale of two quarters,” as the first half was more in line with what the firm originally anticipated.” data-reactid=”44″>The tech industry’s biggest names are reporting this week, with Google (GOOG, GOOGL) among the first to demonstrate how the pandemic and economic downturn have impacted its business. The company reported that ad sales slowed toward the end of March, and said the quarter was a “tale of two quarters,” as the first half was more in line with what the firm originally anticipated.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="However, on Wednesday Microsoft (MSFT) reported strong earnings showing that its cloud unit grew 27% year-over-year in the quarter.” data-reactid=”45″>However, on Wednesday Microsoft (MSFT) reported strong earnings showing that its cloud unit grew 27% year-over-year in the quarter.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="More from Dan:” data-reactid=”46″>More from Dan:

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at&nbsp;@DanielHowley.” data-reactid=”52″>Got a tip? Email Daniel Howley at [email protected] or [email protected], and follow him on Twitter at @DanielHowley.

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