Original title: analyst: Apple Inc's latest quarterly sales will exceed $100 billion for the first time Source: Sina Technology
According to reports, Wall Street analysts expect Apple Inc's revenue to exceed $100 billion for the first time in the latest quarter.
Through Yahoo Finance, 27 analysts predict that Apple Inc's sales are expected to reach $102.76 billion in the first quarter of 2021, which ends on December 31. Among them, some analysts expect the company's revenue to reach up to $110.21 billion.
Morgan Stanley analysts Katy L. Huberty and Erik W. Woodring said in a research note that they had bought more Apple Inc shares before predicting Apple Inc's record revenue this quarter. The two analysts rated Apple Inc's share price as "overweight" and set a target price of $152for the stock.
According to Yahoo Finance, Apple Inc's revenue in the latest quarter will increase by about 16% compared with the same period last year, based on the median revenue forecast of $102.76 billion.
It is reported that Apple Inc is scheduled to announce the latest results after the close on Wednesday.
In addition, Amazon.Com Inc will also release the latest results on February 2, and the company's quarterly sales are expected to reach more than $100 billion. Apple Inc and Amazon.Com Inc will join a small number of US companies such as Walmart Inc to reach the revenue milestone of $100 billion.
Last summer, Apple Inc made history by becoming the first US company with a market capitalization of more than $2,000bn. Some people believe that Apple Inc was able to set this record because they locked their customers firmly in the iPhone ecosystem.
Apple Inc's revenue was also boosted by iPhone sales last quarter with the launch of new 5G models, analysts said. According to Morgan Stanley's research, last year's iPhone conference was the most successful in the past five years.
The trend towards telecommuting triggered by the outbreak has also boosted sales of Apple Inc's other hardware devices, such as iPad, desktops and laptops, according to research by Morningstar analysts.
In a note originally released before Thanksgiving, some analysts wrote: "Tim Cook, chief executive of Apple Inc, expects iPhone revenue to grow in December despite the launch of the new iPhone 12 a few weeks later this quarter, although he did not specify the extent of the increase. Meanwhile, all other products and services are expected to achieve double-digit growth. " The analysts reissued the report last week.
Analysts at Argus Research Company said Apple Inc was making "all-round efforts" in his products. Argus Research Company has a "buy" rating on the rated stock.
It is rumored that Apple Inc is testing a number of new products, which are currently in different testing stages. The company is testing a new iPhone with a foldable screen and is developing a self-driving car, while Apple Inc is also developing its first head display device, which will be more expensive, the report said.