Apple Predicts Sales Will Be At An All-Time High This Holiday Quarter
Along with the quarterly earnings, Apple said it looks to hit $37 billion in revenue for the upcoming holiday quarter. The number is $10 billion increase year over year, expecting to set an all time high with sales of the iPhone 4S.
Peter Oppenheimer, during a conference call, said that he expects the company to earn roughly $37 billion in the holiday quarter with diluted earnings per share of about $9.30. This leaves the projection to be $8 billion more than Q3 2011, which was the company’s previous best quarter ever (with over a $10 billion gain year to year). The month of December is actually a part of the first fiscal quarter of 2012, which will span 14 weeks instead of the usual 13. (Every six to seven years, the alignment of the 52 week, 364 day fiscal year meets up with the 365 day calendar). Oppenheimer also mentioned that the extra week shouldn’t have much of an effect on the earnings.
Tim Cook said that he was thrilled with the 2011 fiscal year and expects a strong performance in the upcoming quarter. The CEO’s optimism is based on the record-breaking sales and high demand for Apple’s new iPhone 4S
, which has sold over 4 million units during its opening weekend. He also mentioned that there would be a “large supply” of the device available in time for the holidays.
Considering that the company had the highest sales to date with the release of the iPhone 4S, I don’t think it would be a surprise to see an all-time high in terms of sales for the company this holiday season.