In the last three months of 2020, Apple Inc has delivered its flagship iPhone 12 model weeks later than normal iPhone debuts and has closed some of its stores due to the pandemic.
But Wall Street still expects a near-record quarter of sales for Cupertino, the Californian firm’s signature device, when it reports first-quarter fiscal earnings, estimated at $ 59.8 billion, on Wednesday, according to IBES data. from Rifinitiv from January 26th. If Apple beats the number, it could eclipse its all-time high of $ 61.58 billion iPhone sales for the first quarter of fiscal 2018. The analyst largely attributes the push to the timing of iPhone 12 lineup, which had a new look, 5G cellular data connectivity and new models at the top and bottom of the size range.
“They have a very good understanding of what their refresh cycle looks like and when waves are possible and not,” said Ben Bajarin, head of consumer technologies at Creative Strategies. “Every bit of data in China and Europe showed that not only was the installed base aging, but people were not cooling off. I think (Apple) knew it was going to be a heavy upgrade cycle. “According to data from Refinitiv, analysts are also expecting strong Mac sales of $ 8.69 billion from January 26, thanks in part to the introduction of models with the first central processor chip for its laptops and desktops Apple designed by itself. Overall, analysts expect $ 103.28 billion in sales and earnings per share of $ 1.41 for Apple’s fiscal first quarter.
A “super cycle” of boom iPhone sales after many more modest years are nothing new Apple – the company’s previous high came after it announced the iPhone X, with a new design. During previous cycles, Apple’s shares of S are often trading at lower price / earnings ratios than its competitors due to Apple’s reliance on iPhone. But these ratios have increased over the past year and Bernstein’s analyst Toni Sacconaghi wondered how far they can go further.
“With 33x higher consensus (earnings per share for fiscal year 2021) and buy expectations higher than Street’s, we struggle to see reasons for material outperformance in Apple), in the absence of a surprise product announcement or migration to a bundled hardware subscription model, ”he wrote in a note to customers.
(This story has not been edited by Devdiscourse staff and is automatically generated from a syndicated feed.)
- Overall, analysts expect $ 103.28 billion in sales and earnings per share of $ 1.41 for Apple’s fiscal first quarter. A “super cycle” of boom iPhone sales after many more modest years are nothing new Apple – the company’s previous high came after it announced the iPhone X, with a new design.
- PREVIEW-Wall Street expects almost records iPhone sales despite the delay, closed Apple Stores