Wall Street analysts are expecting Apple to reach sales crossing 100 billion US Dollars for the final quarter of 2020. This marks the holiday season along with the company’s launch of its latest iPhone 12 series lineup.

Apple

According to a BusinessInsider report, the current estimation for the Cupertino based giant’s final quarter sales is 102.76 billion US Dollars. This is for the quarter that ends on 31st December 2020, which is also the company’s fiscal first quarter, as per estimates from 27 analysts. At the moment, the highest estimate as per these analysts has the company reach 110.21 billion US Dollars in sale during the fourth quarter of last year.

As per Morgan Stanley analysts Katy L. Huberty and Erik W. Woodring’s research note, “We are buyers ahead of what we expect to be a record December quarter print.” If the mean estimation of the 102.76 billion US Dollars sales for Apple is true, it would mark a year on year rise of 16 percent over its final quarter sales from back in 2019. The company is scheduled to post the results of this quarter on Wednesday (27th January 2021) after the market closes.

Apple

Similar to Apple, even Amazon is expected to top the 100 billion US Dollars sales mark during this period. Although, its financial report for this quarter would only be seen by 2nd February 2021. Both Apple and Amazon would be a part of a small group of American firms that also includes Walmart, which also hit the 100 billion US Dollar milestone as well. Morningstar analysts also added that “CEO Tim Cook expects iPhone revenue to grow in the December quarter despite the new iPhone 12 being launched a couple of weeks later in the quarter, though he did not specify the magnitude of growth. Meanwhile, all other products and services are expected to grow in the double digits.”

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