Apple will report its earnings results for the first quarter of fiscal 2021 on Wednesday, January 27, with many analysts forecasting 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 fiscal 2020.
In an investor note shared with MacRumors, Monness Crespi Hardt analyst Brian White estimated that Apple will report quarterly revenue of $ 105.2 billion following the launch of several new products and services in the last three months of 2020, including the full line of iPhone 12, a redesigned iPad Air, Apple’s first three silicone Macs, HomePod mini, AirPods Max, Apple Fitness +, and Apple One subscription packages.
“In our opinion, Apple’s portfolio was better positioned than ever before this recent holiday season,” White said, adding that Mac and iPad revenue should remain strong as many customers continue to work and learn from home in between. of the pandemic.
Morgan Stanley analyst Katy Huberty is even more optimistic, forecasting that Apple will report quarterly revenue of $ 108.2 billion, according to MarketWatch. Huberty referred to the iPhone 12 as “Apple’s most successful product launch in the last five years,” and also cited “sustained work and learning from domestic demand” for Apple products.
Apple’s earnings report will be released Wednesday at 1:30 p.m. Pacific time and will be followed by a conference call with Apple CEO Tim Cook and Chief Financial Officer Luca Maestri at 2: 00 pm Pacific time. Apple’s share price is up about 3% today.