AAPL hits an all-time high, expectations set for the first quarter of $ 100 billion

AAPL posted a slight gain today as the overall market saw the opposite. This was enough to push Apple shares to a new all-time high. Notably, this is against the backdrop of the company reporting its performance over the holidays on January 27, with expectations that it will be Apple’s $ 100 billion first quarter.

AAPL’s value hasn’t moved much since late 2020. On December 29, we saw Apple stock hit $ 138.78 in intraday trading with the stock seeing a nearly 90% gain in 2020. Even so , today’s slight gain of 1.61% was enough to move AAPL to a new all-time high to close at $ 139.07.

Eyes on Apple (AAPL) holiday quarter results

Looking ahead, Apple is expected to report its fiscal performance for the first quarter of 2021 next week on January 27. Due to the pandemic, Apple hasn’t shared any revenue and profit guidance, but expectations are high with the iPhone 12 line being launched in the period as the company’s first devices with 5G.

For comparison, Apple posted revenue of $ 91.8 billion and profit of $ 22.2 billion for the first quarter of 2020. This was an all-time high for both net profit and revenue. . And for the first quarter of 2021, analysts believe the company will set another all-time record by surpassing the $ 100 billion revenue milestone for the first time.

Reported by MarketWatch, Katy Huberty of Morgan Stanley called the iPhone 12 debut “the most successful product launch in five years.” And during the pandemic, Apple saw a boom in sales for iPad and Mac with the latter powered by the company’s new Apple Silicon M1 MacBook Pro, Air and Mac mini. And Apple’s service growth has been in slump from previous quarters.

MarketWatch notes that analyst consensus is between $ 102-103 billion for Apple’s holiday quarter revenue.

Apple plans an exciting 2021 with more Apple Silicon MacBook Pro machines and other products in the pipeline like AirTag, a redesigned iMac, and more.

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Via: 9to5mac.com

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