Wall Street analysts predict that in the latest quarter’s earnings report, Apple’s revenue may exceed $100 billion for the first time.
As of December 31, in the first fiscal quarter of 2021, Apple’s sales are expected to reach 102.76 billion US dollars. Among them, some analysts expect the company’s revenue to reach up to 110.21 billion US dollars.
Katy L. Huberty and Erik W. Woodring said in a research report that they had purchased more Apple shares before predicting that Apple’s revenue this quarter would set a record. The two analysts rated Apple’s stock price as “overweight, ” and their target price for the stock was $152.
According to data from Yahoo Finance, according to the estimated median revenue of $102.76 billion, Apple’s revenue in the latest quarter will increase by about 16% over the same period last year.
It is reported that Apple is scheduled to announce the latest results after the close on Wednesday.
In addition, Amazon will also release its latest results on February 2, and the company’s quarterly sales are also expected to reach more than $100 billion. Apple and Amazon will join a small group of American companies such as Wal-Mart, reaching the $100 billion revenue milestone.
Last summer, Apple became the first American company with a market value of over US$2 trillion, making history. Some people believe that Apple was able to set this record because they locked their customers firmly in the iPhone ecosystem.
Analysts said that with the introduction of new 5G models, Apple’s revenue in the last quarter was also driven by iPhone sales. According to Morgan Stanley’s research, last year’s iPhone conference was the most successful in the past five years.