Apple is set to announce its earnings for the second quarter of 2016 next week. The tech giant has already told investors to expect a substantial year-on-year decline in Q2 earnings.

The Cupertino-based company will announce its earnings on July 26. As compared to $49.6 billion in revenue last year in the same quarter, the company is expected to generate merely $41 to $43 billion in revenue in the second quarter of this year.

What Wall Street expects from Apple earning

Apple has told investors to expect yet another substantial year-on-year decline in Q2 earnings of 2016

“The second quarter of the year is never a great quarter for Apple, but this year is shaping up to be worse than usual.

Apple is reporting quarterly earnings on Tuesday, July 26. The company’s own guidance forecasts that revenue will be down from the same time last year.

Last year, during this quarter, typically Apple’s slowest, the company generated $49.6 billion in revenue. CEO Tim Cook says Apple will do $41 billion to $43 billion in revenue in the second quarter this year,” Business Insider.

Apple is all geared up to introduce iPhone 7 this fall. Due to minor changes and very few new features, there is not much excitement for the next-gen iPhone.

Several tech analysts believe that iPhone sales will continue to decline this year due to a number of factors including the lack of new design.

Among some the new features that are reported to arrive on the iPhone 7/7 Plus are Smart Connector, dual-camera, no headphone jack, four speaker grills. As per reports, iPhone Pro will be the third model.

According to a recent survey, only 9% percent of the existing iPhone users are willing to upgrade to iPhone 7. Most prospective buyers are waiting for the 2017 model of iPhone which is expected to come with a number of new features such as, touch-sensitive Home button, OLED display etc.

Hopefully, Apple is able to turn things around with the success of its upcoming iPhone. What’s your take on this major development?

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