Two developments in teacher expectation research formed the basis for the current study. First, researchers have begun investigating the self-fulfilling prophecy effects of teacher expectations on a variety of psycho-social outcomes in addition to the effects on academic achievement. Second, researchers have started to realize that some groups of students appeared to be more vulnerable or susceptible to teacher expectations. The current study aimed to investigate whether students' gender and minority background were moderators of teacher expectation effects for both academic outcomes and self-concept and subjective task value in the mathematics domain. The study is based on a sample of 1663 students (Grades 6 and 7) in 42 classes from three intermediate schools in New Zealand. Multilevel modeling was applied using MLwiN software. First, after controlling for students' beginning-of-year mathematics achievement, teacher expectations were higher for Asian and lower for Maori, compared with New Zealand European students. Expectations within the domain of mathematics, however, were higher for girls than for boys. Second, teachers' beginning-year expectations were predictive of achievement and self-concept of students at end-of-year, after controlling for beginning-of-year achievement and self-concept. Teachers' expectations were, however, not predictive of end-of-year intrinsic and utility value. Third, we did not find evidence for moderation effects of students' gender and minority background. These findings imply that despite the roughly similar magnitude of teacher expectation effects for various student groups, teacher expectations may contribute to gaps in students' achievement and self-concept because of differential expectations at the beginning of the year.