Wall Street thinks Apple recently finished an amazing quarter. If the analysts are right, the company will reveal on Wednesday the results of a January-through-March period with significant revenue growth in all its products, both hardware and services.
The analysts show no hint of pessimism about the iPhone-maker. According to Barron’s, “Consensus estimates call for double-digit increases from last year across the board: iPhones sales up 43%, to $41.4 billion; iPad sales up 29%, to $5.6 billion; Mac sales of $6.8 billion, up 27%; wearables sales (mostly Apple Watch and AirPods) of $7.4 billion, up 18%; and a 16% bump in services, to $15.5 billion.”
So much reason for optimism about Apple results
It’s not hard to see why the eyes of Apple investors keep flashing dollar signs. In its October-through-December quarter, the company raked in $111.4 billion in revenue, up 21% over the previous year. That marked the first time the Mac-maker cleared the $100 billion mark. The success was driven by double-digit growth in each of its product categories.
That projected 43% increase in iPhone revenue is based on reports of very strong sales. For example, Wedbush analysts recently predicted Apple will sell between 240 million and 250 million iPhones in 2021, breaking a record that’s stood since 2015. Back then, buyers had been waiting for larger displays. With the current models, people had held off for 5G.
And the pandemic is expected to continue to be the driving force behind sales of Mac and iPad. Revenue from macOS and iPadOS computers grew dramatically during each of the first three quarters that COVID-19 forced the world into working and learning from home.
Much of the excitement is reflected in Apple’s share price. The company is valued at $2.26 trillion. And its value has increased 3.85% since January 1.
The official numbers from CEO Tim Cook and CFO Luca Maestri are right around the corner. The company’s investor relations page promises, “Apple’s conference call to discuss second fiscal quarter results is scheduled for Wednesday, April 28, 2021 at 2:00 p.m. PT / 5:00 p.m. ET.”
Just don’t be confused — Apple’s financial quarters aren’t numbered the same as calendar quarters. For Cupertino, the January-through-March period was Q2 2021.
Anyone can listen in on Apple’s earnings call this afternoon. Before it happens, be sure to bone up with Cult of Mac’s new glossary of terms for understanding Apple’s earnings calls.
We first published this story on April 27, 2021.