Apple shares dip ahead of earnings as company launches leasing program
Apple's stock slipped about 2% before its quarterly earnings report, while analysts project strong revenue growth and the firm unveiled a new device-leasing service.
Apple Inc. (NASDAQ:AAPL) fell nearly 2% in Thursday's regular-session trading ahead of its scheduled earnings release. Analysts forecast June-quarter revenue to rise 15.5% to roughly $108.65 billion, the strongest quarterly growth in five years, driven largely by an expected 20.8% increase in iPhone sales.
Profit is projected to climb 18.1%, though the company's gross margin is expected to dip to about 47.9% as component costs rise. Apple has kept iPhone prices steady, making pricing and margin guidance a focal point of the upcoming report, along with demand trends in China and the sustainability of the current iPhone cycle.
Separately, Apple introduced the Apple Upgrade program, a U.S. leasing service run by fintech firm Klarna. The scheme offers one- or two-year leases for iPhones and Apple Watches and longer terms for Macs and iPads, allowing eligible customers to swap devices for newer models. Monthly payments begin at $17.99 for an iPhone and $11.99 for an Apple Watch. While the program could spur more frequent upgrades and boost sales through Apple’s direct channels, its financial impact has not yet been quantified.