AAPL saw a slight gain today as the overall market saw the opposite. That was enough to push Apple shares to a new all-time high. Notably, that’s against the backdrop of the company reporting its holiday performance on January 27 – with expectations that it will be Apple’s first-ever $100 billion quarter.
AAPL’s value hasn’t moved much since the end of 2020. On December 29, we saw Apple shares hit $138.78 in intraday trading with the stock seeing an almost 90% gain across 2020. Even so, today’s slight gain of 1.61% was enough to move AAPL to a new all-time high as it closed at $139.07.
Eyes on Apple (AAPL) holiday quarter results
Looking to next, week Apple is set to report its fiscal Q1 2021 performance on January 27. Due to the pandemic, Apple hasn’t shared any guidance for revenue and profit but expectations are high with the iPhone 12 lineup having launched in the period as the company’s first devices with 5G.
For comparison, Apple posted revenue of $91.8 billion and profit of $22.2 billion for Q1 2020. That was an all-time record for both net income and revenue. And for Q1 2021, analysts believe the company will set another all-time record by passing the $100 billion revenue milestone for the first time.
Reported by MarketWatch, Morgan Stanley’s Katy Huberty has called the iPhone 12 debut “the most successful product launch in five years.” And during the pandemic, Apple has seen booming sales for iPad and Mac with the latter boosted by the company’s new Apple Silicon M1 MacBook Pro, Air, and Mac mini. And Apple’s services growth have been on a tear over the previous quarters.
MarketWatch notes analyst consensus is between $102-103 billion for Apple’s holiday quarter revenue.
Apple has an exciting 2021 planned with more Apple Silicon MacBook Pro machines and other products in the pipeline such as AirTags, a redesigned iMac, and more.