Apple Q2 2025 Earnings Preview: iPhone Expectations Continue To Move Lower

  • Apple's total revenues expected for fiscal Q3 have started to tick up slightly from the beginning of last quarter, according to Visible Alpha consensus. Since late January, expected Q3 iPhone units stayed at 45 million, and FY 2025 jumped back to 227 million. Expectations for the high-margin Services segment remained stable for Q3 at $26.8 billion.