Apple's record setting pace of a million iPhone 4S preorders in 24 hours puts the company in a position to sell nearly 3 million devices on launch weekend, and 25 million in the current quarter.
Steve Jobs changed the world with his ideas, and those same principles make up the backbone of Apple, which is why Wall Street watchers believe the company will continue to innovate and succeed even after the passing of its iconic co-founder.
Following Apple's unveiling of the iPhone 4S on Tuesday, Wall Street's response was relatively subdued, though analysts remain optimistic that Apple sales growth will continue to rise.
Apple's "let's talk" invitation to next week's next-generation iPhone unveiling could hint at new voice recognition technology built in to iOS 5, investment firm Piper Jaffray believes, though it does not expect a low-end, contract-free "iPhone 4S" to be unveiled alongside a fifth-generation model.
A second report on Monday also cited sources in Apple's supply chain as saying that the company has apparently reduced orders for the iPad 2. But those claims from the Far East have not created concern for one Wall Street analyst, who believes demand for the iPad 2 remains while production may simply have been moved elsewhere.
The latest sales figures from the NPD Group show Apple's Mac platform is set to have its best quarter ever, with sales on pace to hit 4.5 million.
Investment firm Piper Jaffray on Wednesday released their calendar year 2013 estimates for Apple, forecasting $164 billion in revenue with earnings per share of $40.50 on sales of well over 200 million iOS devices.
Responding to the news that Steve Jobs is stepping down as Apple CEO, Wall Street analysts affirmed the company's position, predicting a relatively uneventful transition for the company and calling Tim Cook "the ideal candidate" for the role.
While the move may be good for the parties directly involved, Google's purchase of Motorola is not expected to have a major effect on Apple, Wall Street analysts have said.
Wall Street analysts were stunned by Apple's record quarterly earnings on Tuesday, noting that there seems to be no end in sight for the company's "upside parade."
The latest domestic sales figures from the NPD Group suggest Apple may have sold as many as 4.2 million Macs in the June quarter, a sum that would represent the company's best quarter ever.
Next week Apple could post its strongest quarter yet for iPhone sales, as Wall Street firm J.P. Morgan predicted on Thursday sales of 19.6 million iPhones in the June frame.
Having recently hit the 15 billion download milestone, a new analysis has found that downloads from Apple's iOS App Store will increase 61 percent in calendar year 2011, while the average selling price of software will be up 14 percent.
Apple's newly unveiled iCloud service, which will make it easier to share content among multiple devices, is seen by one prominent analyst as even more evidence that the company is planning to release a high-definition television set as soon as late 2012.
With Apple's retail operations continuing to expand and new features and improvements constantly being rolled out, the company revealed it is already working to find a replacement for the departure of Ron Johnson.
Through the first two months of Apple's third quarter of fiscal 2011, U.S. Mac sales are up 15 percent year-over-year, but that number is expected to rise in June when Apple faces a more favorable 2010 comparison.
A new survey of attendees at Apple's annual Worldwide Developers Conference found that nearly half of iOS developers attending the conference support Android, while just 7 percent write applications for the Mac.
Apple this week revealed that iPad sales have reached 25 million in just 14 months, a sum that also suggests the company is on pace to exceed sales of 8 million touchscreen tablets this quarter.
The newly announced iCloud service is expected to further drive sales of iOS devices as users become even more tied in to Apple's increasingly proprietary ecosystem, analysts on Wall Street believe.
Apple has become a victim of its own success, but the company's growth rate will remain sustainable for the next four years, one prominent Wall Street analyst believes.
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AppleInsider Staff
Sam Oliver
Josh Ong
Neil Hughes
