JP Morgan analyst Samik Chatterjee expects Apple to beat the analysts’ consensus when it reports revenue, and set a new all-time holiday quarter record, despite facing supply chain constraints.
Mike Peterson for AppleInsider:
Chatterjee outlined his predictions for Apple’s Q1 2022, which corresponds to the fourth calendar quarter of 2021. Despite Apple not giving guidance on the quarter at all, Chatterjee expects Apple to beat Wall Street’s expectations for the quarter, and shatter all of the company’s records in the process.
Chatterjee is predicting that Apple will report revenue of $119 billion, destroying last year’s holiday quarter record of $111.4 billion.
The biggest upgrade to the earnings cycle, Chatterjee says, will be March quarter revenue and earnings-per-share (EPS) expectations. He believes it will include guidance for above seasonal iPhone revenue because Apple will achieve inventory balance later than in previous years and supply chain conditions will improve…
The analyst maintains his 12-month Apple price target of $210.
MacDailyNews Take: The analysts consensus expectation for Apple’s Q122 (holiday quarter) currently stand at $118.17 billion.
Apple will report Q122 results on January 27th. We’ll have Apple’s results for you as soon as they are released, just check our homepage right around 1:30 p.m. PT / 4:30 p.m. ET. We will follow that with live notes from Apples’ conference call starting at 2:00 p.m. PT / 5:00 p.m. ET on January 27th.
Please help support MacDailyNews. Click or tap here to support our independent tech blog. Thank you!
