Apple is primed to have a massive holiday quarter, according to financial services firm Cowen’s latest guidance.
William Gallagher for AppleInsider:
Ahead of Apple’s next financial earnings call, a Cowen investor note seen by AppleInsider says the company will exceed expectations and earn $90 billion in the quarter spanning the holiday buying season.
That’s around $3.1 billion more than previous estimates, and the company says this is predominantly due to increased demand for the iPhone plus growing Services… “The iPhone 11 product cycle… [is] off to a solid start,” it reports, “and the upcoming TV+ service supports longer term Services growth.”
Apple’s next legally-required financial earnings call is due on October 30. Cowen recommends investors look out for the call to detail “iPhone demand trends in China/India” plus information about tariffs.
MacDailyNews Note: Apple’s all-time quarterly revenue record stands at $88.293 billion (fiscal Q118, holiday quarter ended December 30, 2017).