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Apple is set to reveal quarterly sales of $ 100 billion

Apple will first reveal quarterly sales of $ 100 billion when its results for the last three months of 2020 are released

Apple is expected to declare quarterly sales of $ 100 billion for the first time next week.

The iPhone maker will announce the results for the last three months of 2020, the first quarter of the financial year on Wednesday.

It covers the pivotal trading period before Christmas, with the demand for gadgets and home entertainment expected to be boosted this year by the coronavirus blocking.

Analysts have predicted that Apple brought in about $ 102.8 billion (£ 75 billion) – the equivalent of more than half a million pounds per minute – compared to $ 91.8 billion (£ 67 billion) in the same three months a year earlier.

They also expect it to report quarterly earnings of around $ 23.7 billion (£ 17.3 billion), just over $ 22.2 billion (£ 16.3 billion).

Morgan Stanley analysts said they expect Apple’s new iPhone 12 to sell well, but the company itself has made no predictions in its latest update.

“Our recent talks suggest investors expect Apple to post solid, but not great, December quarterly results,” they said in a note.

We disagree and think Apple is likely to report record quarterly sales and earnings.

“We think the iPhone 12 is Apple’s most successful product launch in the past five years,” the analysts said. However, analysts at Bernstein disagreed.

They noted that they “struggle to see material outperformance without a surprising product announcement.”