Apple likely to report 'inline' quarter, but Services may see upside: BofA
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Apple (NASDAQ:AAPL) is slated to report fiscal third-quarter results on August 3 and Bank of America isn't expecting much out of the ordinary, though the company's Services revenue could surprise to the upside.
Analyst Wamsi Mohan, who has a neutral rating and boosted the per-share price target to $210 from $190, said he expects the company to earn $1.17 per share and $80.7B in revenue, slightly below Wall Street's estimates, due to some weaker iPhone demand. However, that's likely to be offset by "resilience" in Services, aided by better growth in the App Store and "strong" subscriptions. 
"We reiterate our Neutral rating as positives of new product opportunity and Services growth are offset by weaker consumer demand," Mohan wrote in an investor note.
In addition, Mohan noted that any guidance Apple (AAPL) gives could be impacted by the launch of its upcoming products, including the iPhone 15, which Mohan said could be "delayed a few weeks."
A consensus of analysts estimate that Apple (AAPL) will earn $1.19 per share on $81.77B in revenue during the quarter.
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