Wall Street expects near-record iPhone sales despite COVID delay, shut Apple stores

Wall Street is still expecting a near-record iPhone sales quarter for Apple even knowing that, during the last three months of 2020, Apple closed some of its stores due to COVID-19 shutdowns and delivered its iPhone 12 models weeks later than normal iPhone debuts.

Wall Street expects near-record iPhone sales despite COVID delay, shut Apple stores. Image: Apple Park in Cupertino, California
Apple Park in Cupertino, California

Stephen Nellis for Reuters:

But Wall Street is still expecting a near-record sales quarter for the Cupertino, California company’s signature device when it reports fiscal first-quarter earnings on Wednesday, with estimates of $59.8 billion, according to IBES data from Refinitiv as of Jan. 26. If Apple beats the number, it could eclipse its all-time record of $61.58 billion in iPhone sales for the first quarter of fiscal 2018.

Analyst also expect strong Mac sales of $8.69 billion, according to Refinitiv data from Jan. 26, thanks in part to the introduction of models with the first central processor chip for its laptops and desktop that Apple designed itself. Overall, analysts expect $103.28 billion in sales and earnings per share of $1.41 for Apple’s fiscal first quarter.

A “super cycle” of booms in iPhone sales after several more modest years are not new to Apple – the company’s previous high came after it announced the iPhone X, with a new design.

MacDailyNews Take: $100+ billion in 90 some odd days for the first time ever looms for the world’s most valuable company.

Vroom, vroom, super cycle!

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