There’s unlikely to be any drama when Apple reveals its fiscal Q3 (calendar Q2) earnings later today. Analyst expectations are for the company to deliver within the revenue range promised in its guidance three months earlier. The only question is whether it will be at the high end or somewhere in the middle.

The numbers everyone are waiting to hear are Apple’s revenue guidance for fiscal Q4: calendar months July to September. With the new iPhone models usually launched in September, Q4 generally includes the opening weekend sales – with revenue guidance reflecting this fact.

When Apple gives its guidance today (which is usually +/- $1B), it will give a big clue as to whether or not the iPhone 8 will launch in September – but it won’t necessarily be easy to decode …

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