The smartphone giant is expected to post its first-ever quarter with more than $100 billion in revenue Wednesday, driven by a strong early performance for its new iPhone 12 line as well as continued demand for Macs and iPads for remote work and school needs.
Apple has also seen strong sales of Macs and iPads amid the pandemic, with more people working and studying from home, and that momentum is expected to have continued into the fiscal first quarter. The company launched new iPads late last year as well as its first computers to feature the company’s own custom chip.
Revenue: The FactSet consensus models a record $103.0 billion in revenue for Apple’s fiscal first quarter, up from $91.82 billion a year prior. The Estimize consensus is for $103.76 billion. Stock movement: Apple shares have gained following three of the past five earnings reports, and the shares are up 75% over the past year as the Dow Jones Industrial Average DJIA, -0.12%, which counts Apple as a component, has gained 7%.
“Given lingering uncertainty, we expect Apple is more likely to provide ‘guidelines’ rather than ‘guidance’ for Q2,” Bernstein analyst Toni Sacconaghi wrote in a note to clients. In addition to the many unknowns around the pandemic, Apple’s late launch timing of the latest batch of iPhones means that the March quarter could be stronger than usual, since there were fewer iPhone 12 “selling days” leading up to it.
WaltJohnson85 Grab you some now before it spikes. Lol
Buy Apple ?
SDHILLON97 this phone is 🔥
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