Analysts expect a record quarter at Apple
iPhone 12 Pro Max. (Photo: t3n)
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According to Morgan Stanley analysts, the iPhone 12 is Apple’s most successful product in the past five years. IPads and Macs also sold well. Accordingly, the experts expect a record profit for the past quarter.
iPhone 12 Pro Max, iPhone 12 Pro, iPhone 12 and iPhone 12 Mini are the names of the four smartphones that Apple introduced in October – and which are apparently selling like hotcakes. The iPhone group had already ramped up production in mid-December. Industry insiders predict that Apple could sell up to 230 million iPhones in 2021. No wonder, then, that analysts are not only expecting record results for the past quarter, but also a further increase in the share price.
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The analyst Katy Huberty from Morgan Stanley, for example, recently raised her price forecast for Apple shares from $ 144 to $ 152. Huberty is also even more optimistic than many of her colleagues when it comes to expected earnings for Apple’s first quarter of fiscal 2020/21. On average, the Wall Street analysts are forecasting a bottom line of $ 102.5 billion – which would be a record for a quarterly profit at Apple. Huberty even predicts a profit of $ 108.2 billion.
We will know more precisely next Wednesday when Apple officially announces the numbers. In any case, the stock exchange traders also see the publication of the quarterly results as positive. The Apple share has risen significantly again in the past few days and was trading at around $ 138 on Friday afternoon. For comparison: In mid-March 2020, the price of Apple shares briefly slumped to as low as 56 dollars before it rose steadily over the past few months.
iPhone 12 Mini falls short of expectations
The drivers for the expected record profit and the share price were iPhone 12 sales. For the Morgan Stanley analyst, the iPhone 12 is Apple’s most successful product in the past five years Marketwatch reports. Above all, the Pro and Pro-Max versions, which also promise better margins, are said to have sold well. The iPhone 12 Mini, on the other hand, fell short of expectations. The home office trend, which primarily boosted Mac and iPad sales, was also positive for Apple. The app store also benefited. However, the analysts see room for improvement in services and Applecare.
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