JP Morgan analyst Samik Chatterjee says that the company will accomplish the feat due to the success of the iphone-12 lineup as well as continued demand for its entire product lineup from consumers and businesses working and learning at home.
The momentum from those areas are driving JP Morgan’s revenue estimate of $110 billion and its earnings-per-share (EPS) estimate of $1.56. Both numbers are higher than the Wall Street consensus of $102 billion in revenue and a $1.41 EPS.
The analyst believes that, specifically, the Mac and the iPad will play a major part in Apple passing the historic mark. That will come in addition to the company’s usual #1 seller, the iPhone.
Chatterjee predicts that Apple will report iPhone shipments of about 80 million units in Q1 2021, which could result in revenue of about $66 billion for the segment. He says a better mix of iphone-12 Pro and iphone-12 Pro Max devices could also imply a better average selling price (ASP) than consensus.
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Apple is set to reveal its first-quarter results for 2021 in a conference call that is scheduled to take place on Wednesday, January 27, 2021. The call, which is expected to be held by Apple‘s Chief Executive Officer Tim Cook and Chief Financial Officer Luca Maestri, is currently scheduled to kick off at 2:00 p.m. PT / 5:00 p.m. ET.