Due to having put out zero new products this quarter, Apple's quarterly earnings report out Tuesday afternoon won't make the company look any better — and not just because of the expected drop in profit and flat sales. The company will likely report those things, too, according to analyst expectations. But, the most "startlingly bad" news will come in the form of what Apple tells us about its future. This dud of a quarter falls in line with expectations — CEO Tim Cook promised no new products until this fall. Still, some surprisingly good iPhone sales from wireless carriers might carry this quarter, but without a new product, Apple's should post a mere $37.9 billion in revenue, down from $43.6 billion last quarter.
But the really bad part is the expected reported guidance for next quarter. One prominent Apple analyst expects Apple to issue guidance of only $34 billion to $36 billion in revenue, another drop from this quarter, and a 2 percent drop in year-over-year revenue. Fortune's survey of analysts puts the number even lower at $33.5 to $35.5 billion:
That's crazy talk for Apple, and it's not just because the company quit lowballing on its earnings guidance. Last year in the first quarter had a growth rate of 60 percent. See, Apple should have released some sort of updated iPad by now, say analysts. But because it didn't it will fall flat on sales two quarters in a row.