AAPL had a slight gain today, as the general market saw the opposite. That was enough to bring Apple’s stock to a new historic record. Notably, this is set against the backdrop of the company reporting its January 27 holiday performance – with expectations that it will be Apple’s first quarter of $ 100 billion.
The value of AAPL has not changed much since the end of 2020. On December 29, we saw Apple’s shares reach $ 138.78 in intraday trade, with the stock having gained almost 90% in 2020. Even so, the slight 1.61% gain was enough to move AAPL to a new historic high, closing at $ 139.07.
Eyes on Apple (AAPL) holiday quarter results
Next week, Apple is due to report its fiscal performance in the first quarter of 2021 on January 27. Due to the pandemic, Apple did not share any guidelines for revenue and profit, but expectations are high with the iPhone 12 line being launched in the period as the company’s first 5G devices.
For comparison, Apple recorded revenue of $ 91.8 billion and profit of $ 22.2 billion in the first quarter of 2020. This was a historic record for both net revenue and revenue. And for the first quarter of 2021, analysts believe that the company will set another historic record by exceeding the $ 100 billion revenue mark 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 increasing sales of iPad and Mac, with the latter driven by the company’s new Apple Silicon M1 MacBook Pro, Air and Mac mini. And Apple’s service growth has slowed from previous quarters.
MarketWatch notes that analysts’ consensus is between $ 102-103 billion for Apple’s holiday quarter revenue.
Apple has an exciting 2021 planned with more Apple Silicon MacBook Pro machines and other products in development, such as AirTags, a redesigned iMac and more.
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