App Store growth hits six-month high in January 2021, analyst says
Apple's App Store and demand for notebook computers like the MacBook are both off to a strong start in the first month of 2021, according to Morgan Stanley.
Apple's App Store and demand for notebook computers like the MacBook are both off to a strong start in the first month of 2021, according to Morgan Stanley.
Apple has topped Fortune's chart of the world's most admired companies for the 14th year in a row, with it beating out Amazon, Microsoft, and Walt Disney for the top slot once again.
In the wake of Apple's stellar holiday quarter results, analysts have been quick to respond to the $111.4 billion in revenue and other data points Apple raised in its financials. Here's what the analysts think of the results — as well as how far out they were in their predictions.
Apple's Q1 2021 results were the highest ever for the Cupertino giant, with a later iPhone release schedule and many other factors supersizing typically huge results. Here's a breakdown of the key figures Apple disclosed about its holiday quarter fortunes.
Apple CEO Tim Cook on an earnings call Wednesday said that the company set a new record for the most FaceTime call volume during the holiday season.
Apple earned $111.4 billion in revenue in the first quarter of 2021, blasting past the $100 billion barrier for the first time on double-digit growth across all product categories.
Investment bank UBS has raised its Apple December quarter estimates, citing better-than-expected iPhone shipments, average selling prices, and Mac sales.
Wedbush has raised its Apple price target to $175 on expectations that the company will announce "eye popping" iPhone shipments and earnings for the December quarter.
High demand for the iPhone 12 has prompted Apple to increase its build orders for the March quarter, Cowen analysts claim, with sales in China said to be a highlight of the quarter's finances.
Morgan Stanley has raised its Apple price target to $152 on expectations of a strong December quarter across its product and services portfolio.
Continuing iPhone 12 demand is exceeding Wedbush's most bullish expectations, with the firm predicting that a $3 trillion Apple market capitalization can be hit by mid-2022.
Smartwatches and fitness trackers like the Apple Watch have benefitted from the COVID-19 pandemic throughout 2020, according to Gartner, with consumer spending on wearable devices likely to continue to rise throughout 2021 and into 2022.
Apple's Macs enjoyed a bumper fourth quarter of 2020, according to IDC, with shipments reportedly up almost 50% year-on-year, and helping Apple to become the fastest-growing major computer vendor for the entirety of 2020.
Apple chip partner TSMC will see growth in 2021 alongside the entire chip foundry industry, Counterpoint Research claims, with TSMC expected to keep outperforming the industry average with growth between 13% and 16%.
Investment bank Morgan Stanley believes the "Apple Car" has an opportunity to drive down the normally razor-thin margins of the auto industry and pose a threat to Tesla.
Apple on Tuesday announced its quarterly earnings call for the first fiscal quarter of 2021 will be held on Jan. 27, offering a detailed breakdown of the important holiday quarter as the coronavirus pandemic rages.
Apple's annual shareholders meeting will be held virtually this year as the company continues to follow strict precautionary guidelines to avoid spread of the coronavirus pandemic.
The iPhone 12 was the highest-selling iPhone of the current generation in the two months after launch, according to a new survey — but the iPhone 12 mini is falling behind.
Apple's releases for 2021 will include some often-rumored items, according to TF Securities analyst Ming-Chi Kuo, including the long-awaited "AirTags" and some form of AR-based device.
Loup Ventures' Gene Munster believes that digital acceleration, the iPhone 12, and other factors could drive Apple stock to a $200 price per share and a $3 trillion market capitalization.
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