Apple is set to post its fiscal Q2 financial results on Wednesday and analysts expect the company to exceed guidance especially thanks to strong Mac sales.
Last quarter, the company posted record profits of over $1.5 billion on record revenue of $9.2 billion but showed very conservative guidance of $6.8 billion of revenue for the second quarter. Something which was added to economic recession worries and resulted a plunge of Apple's shares of more than 25% in only a few weeks after the financial release.
The stock had hit the $200 mark a few days before the release and was lower than $120 a few weeks later but has quite recovered and now trades beyond $160 since it appears that technology companies, especially those who sell worldwide, aren't that affected, at least for the moment, by the U.S. economic recession.
Most analysts believe Apple will beat its guidance by far and post more than a billion of profit and nearly $7 billion of revenue. Mac sales are expected to jump over 30% since last year and reach around 2.1 million according to both JP Morgan and Gartner.
The company is also expected to sell between 10 and 11 million iPods, or a slight improvement since last year and nearly 1.5 million iPhones.
MacScoop will provide coverage of the webcasted conference call so stay tuned on Wednesday after the markets' close.
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