2011: $100 Billion Revenue Year for Apple?
With the success of iOS devices and Macs, and the release of the iPad 2 that saw huge lines across the world, analysts are now revising their estimates for Apple's revenue in 2011 and are predicting Apple might be on track for a $100 billion revenue year:
This morning, Needham analyst Charlie Wolf raised his FY 2011 revenue forecast for the company to $103.9 billion from $98.9 billion; his EPS forecast goes to $23.25 a share from $22.25. For FY 2012, he now sees $125 billion in revenue and profits of $27.35 a share, up from $118 billion and $25.50. The higher estimates, he writes, reflect a revised forecast for iPad sales: he now sees the company selling 30 million units this year and 40 million next, up from 20 million and 30 million previously.
Last night we reported Apple will announce its Q2 2011 financial results on April 20th. The company is expected to provide sales numbers for the iPad 2 and the Verizon iPhone, which was initially rumored to have sales "below Apple's expectations". There is no doubt the release of the iPad 2 will play an important role in Apple's 2011 strategy; the iPhone 5, in the meantime, is generating different reports about a possible "delay" that is making Wall Street Analyst update their estimates again.