Netflix is getting results season for the FAANG stocks off to a good start and Apple reports its fiscal first-quarter results on the evening of Wednesday 27th January. This three-monthly ritual might grab a few more headlines than normal because analysts expect Apple to generate sales of more than $100 billion a single quarter for the first time in its history.
Russ Mould, AJ Bell Investment Director. “If the consensus forecast of $102.6 billion is attained, that would equate to year-on-year sales growth of 12%, the fastest rate of advance in ten quarters.
Helped by the launch in October of the iPhone 12 and further double-digit percentage increase in sales from services, as well as wearables and accessories, Apple could therefore start to shrug off the earnings slowdown seen in fiscal 2020 when the pandemic and global recession even made their presence felt at the Cupertino, California-based giant.
“The consensus estimate for Q1 is earnings per share (EPS) of $1.39 compared to $1.25 a year ago.
“Just as important will be any guidance from boss Tim Cook for the second quarter, where analysts currently forecast EPS of $0.92.