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.
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.