“Thanks to the huge success of the iPad and the iPhone, Apple appears on target to top the $100 billion annual revenue mark for the first time when it reports results for the fiscal year ending September 2011,” Eric Savitz blogs for Forbes.
“That puts the company well ahead of Microsoft, and close to parity with IBM, while still trailing tech revenue leader Hewlett-Packard, which should top $130 billion in revenue for its October 2011 fiscal year,” Savitz reports. “And there should be more growth from there.”
Savitz reports, “Needham analyst Charlie Wolf raised his FY 2011 revenue forecast for the company to $103.9 billion from $98.9 billion; his EPS forecast goes to $23.25 a share from $22.25. For FY 2012, he now sees $125 billion in revenue and profits of $27.35 a share, up from $118 billion and $25.50. The higher estimates, he writes, reflect a revised forecast for iPad sales: he now sees the company selling 30 million units this year and 40 million next, up from 20 million and 30 million previously.”
Read more in the full article here.