Ahead of Apple’s Q3 2021 earnings report, analysts predict $72.93 billion in revenue

After a few hours, the Cupertino tech giant will announce its third-quarter 2021 earning report, and expecting an impressive Y-o-Y growth, analysts predict Apple’s share price to hit $161 (on average). At the time of writing, AAPL is trading at $148.99 with a $2.49 trillion market value.

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Analysts estimate $72.93 billion in revenue for Apple’s Q3 2021 due to strong iPhone 12 and 13 sales

Yahoo Finance review of 25 analysts estimates $72.93 billion in revenue; $65.68 billion low and $77.15 billion high. And 28 analysts forecast a $1 increase in earnings per share which is 50% higher than the same quarter previous year.

A summary of analysts’ estimated AAPL share prices compiled by Ped30 shows Danial Ives of Wedbush forecasts the highest $185 with a $36 jump from the current trading value and Matthew Cabral estimates the lowest $150 neutral value with $1 increase.

Analyst ground their estimations on current iPhone 12 sales, high sales of the upcoming iPhone 13 series, and Apple’s adequate supply chain to meet high demand.¬†Earlier, JP Morgan’s analyst Katy Huberty increased the target price of AAPL by $5 to $175 based on iPhone sales, the company outperforming S&P 500 by 8 points, and App Store’s growth. As reported by Ped30, she wrote:

The combination of upside from iPhone 13, stemming from a better upgrade rate to 5G devices and a larger installed base, as well as upside from the launch of iPhone SE3 in calendar 2022 could set Apple up for an earnings upgrade cycle over the next 6-12 months.

Apple is expected to launch next-generation iPhone 13 series in Fall and analysts believe that the new iPhones’ sales will surpass investors’ low expectations by 21%. Recently, it was reported that iPhone 12 worldwide sales crossed 100 million units achieving another super-cycle for the company. These estimations made the back revise their $165 share price to $170.

Currently, the tech industry is facing a global chip shortage and Apple itself accepted that it would iPad and Mac sales would be affected by the supply chain constraints in the third quarter of 2021.

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Addicted to social media and in love with iPhone, started blogging as a hobby. And now it's my passion for every day is a new learning experience. Hopefully, manufacturers will continue to use innovative solutions and we will keep on letting you know about them.