Apple is set to report its fiscal third quarter earnings report on Tuesday after the stock market closes. Usually, Apple releases its report around 5pm EDT. The most anticipated data that comes from the quarterly report is the number of  iPhone units sold by Apple during the three month period. The company’s fiscal third quarter covers the calendar second quarter, which runs from April through June.
Apple’s fiscal third quarter is typically the slowest period of the year when it comes to iPhone sales. That is because prospective iPhone buyers will usually sit on their wallets during the summer, awaiting the new batch of iOS handsets that are unveiled each September. As a result, Apple’s fiscal first quarter, which includes a full three months of sales for the latest models (except for the delayed iPhone X last year) and the holiday shopping season, is the best three-month quarter for the iPhone.
According to a recent report, 17 analysts (10 of them who toil on Wall Street) are expecting Apple to report handset sales in the range of 39.8 million to 43.3 million units for the fiscal third quarter. The average of 42.05 million represents a 2.4% gain year-over-year.
Other numbers to watch include the Average Selling Price of the iPhone. Last quarter, Apple reported that the ASP was $728, up from $655 year-over-year. That seemed to indicate better than expected sales of the premium priced tenth anniversary model. The company also is focusing on its services, and last quarter revenue in that segment rose 31% year-over-year to $9.19 billion.
Apple is the leader right now in the race to become the first public company worth one trillion dollars. Based on Friday’s closing stock price, Apple is worth close to $942 billion. If the company can blow through iPhone estimates, show a nice gain in the iPhone’s ASP and report much higher services revenue, the stock just might take a giant leap toward the magic number.

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