Working and schooling from home has led to a rush of computer purchases, to Apple’s benefit. The Mac-maker is set to reveal the results of its most-recent financial quarter on Wednesday, and analysts predict quarterly revenue will break through the $100 billion mark for the first time.
That’s a sizable increase from the $91.8 billion in revenue Apple took in from the same period of the year before. But analysts are counting on a significant rise in iPhone revenue. The consensus is $59.8 billion, up from $55.9 billion year-over-year.
There’s reason for the optimism. The iPhone 12 series, which launched last quarter, is reportedly selling better than its predecessors. Many consumers held off buying until Apple released a handset with super-fast 5G wireless networking. The latest iOS device checks that important box.
Don’t forget Mac and iPad
The COVID-19 pandemic forced people online for almost everything, and that lead to increased sales of Mac and iPad. In the July-through-September period, Apple took in more revenue from laptop and desktop sales than it had in any previous quarter. Ever.
And tablet sales haven’t been left behind. There were sizable year-over year increases in iPad revenue during the spring and summer quarters as well.
With the pandemic still raging last quarter, it’s easy to expect sales of macOS and iPadOS computers were up in the October-through-December period too. Plus, those months contain the important holiday-shopping season.
And it doesn‘t stop there. Analysts are predicting double-digit increases in revenue from services and wearables also.
Stay tuned for Apple Q1 2021 earnings
All this is likely leading to a strong increase in Apple earnings. Which hasn’t escaped the attention of investors. AAPL shares are up 8% in just January. They’re up 23% since the end of September 2020.
The Cupertino will announce the results of the October-through-December period — AKA its Q1 2021 financial quarter — after the end of trading on Wednesday, January 27. That’s 5:30 pm EST, or 2:30 PM PST. There’ll be the traditional Apple earnings call with top-level executives soon thereafter.