Apple (AAPL) will likely report lower revenu🌳e and earnings compared to a year ago as sales of some of its iconic products, including iPhones, iPads, notebooks, and Mac computers, decline.

The tech behemoth, which is the most valuable company in the U.S. with a market cap exceeding $2.6 trillion, will likely report 澳洲幸运5官方开奖结果体彩网:net income ﷽of $22.🌃62 billion, or $1.43 per share. That's down 9.5% from the same quarter last year, according to estimates from Visible Alpha.

Projected revenues of $92.92 billion will be 4.5% lower than the year-ago quarter, dragged down by falling sales of the company’s flagship products. Apple 🅠reports its fiscal second-quarter earnings on Thursday, May 4 after markets close.

Demand for the company’s flagship products, including iPhones, iPads, Mac computers, and notebooks waned in the fiscal second quarter, with particularly large declines for the latter two products. iPhone sales likely fell 3.2% year-over-yea🦩r to just under $49 billion, with iPad sales estimated to be down 12.5% to $6.69 billion. 

Sales of notebooks and Macs likely recorded the biggest losses, down 22.9% and 25.2% year-over-year, respectively. Sales👍 of iPods, first introduced more than two decades ago, have been falling for years as iPhones and newer products have rendered them increasingly obsolete. ꦬThey were probably down 37% from the year-ago quarter. Seasonality was a likely headwind for product sales in the latest quarter.

Last year, the company launched its iPhone 14 Generation, new Apple Watch models, AirPods Pro, the iPad Pro, and a third-generation Apple TV 4K.

Revenue from Apple’s iTunes store likely rose 37.5% from a year ago to a near-record $3.18 billion. Revenue from services, which encompasses the App Store, iCloud, Apple Music, Siri, product repair services, and other feature🌳s, is also forecast at a record $21✤ billion. However, growth in the segment likely slowed to a 6% annual pace, down from 17.3% in the year-ago quarter.

Apple shares are up 29% so far this year, outperforming a 21% gain in the broader S&P 500 information technology sector over t♚he same period.