Apple will report its earnings for the first quarter of the 2021 financial year on Wednesday, January 27, and many analysts predict that the company’s quarterly revenue will exceed $ 100 billion for the first time. Apple’s current quarterly revenue record is $ 91.8 billion, set in the first quarter of the 2020 financial year.
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In an investor letter shared with MacRumors, Monness Crespi Hardt analyst Brian White estimates that Apple will report $ 105.2 billion in revenue quarterly after the launch of several new products and services in the last three months of 2020, including the entire iPhone 12 series, a redesigned iPad Air, the first three Macs with Apple silicone, the HomePod mini, the AirPods Max, Apple Fitness + and Apple One subscriber bundles.
“In our opinion, Apple’s portfolio is better positioned than ever in the recent holiday season,” White said, adding that Mac and iPad revenue should remain strong as many customers continue to work and learn at home amidst the pandemic.
Morgan Stanley analyst Katy Huberty is even more optimistic, predicting that Apple will report $ 108.2 billion in quarterly revenue. MarketWatch. Huberty referred to the iPhone 12 as ‘Apple’s most successful product launch in the last five years’, and she also calls ‘continuous work and learning from the demand of the home’ Apple products.
Apple’s earnings report will be released on Wednesday at 13:30 Pacific Time and will be followed by a conference with Apple CEO Tim Cook and Luca Maestri at 14:00 Pacific Time. Apple’s share price is up about 3% today.