Apple has been rapidly growing and the investor received positive news about the 40 percent increase of the shares over the past year. Now, Apple is approaching its $750 billion mark.
According to Fool, Apple's first fiscal quarter hit a record high of $18 billion. For the second quarter, Apple reported a $13.6 billion profit. All in all, their half year reports reached $31.6 billion.
With these statistics, Apple might surpass ExxonMobil, the world's largest publicly traded international oil and gas company.
At present, ExxonMobil still holds the strongest yearly report amassing to $45.2 billion in 2008. That year, they had $4 per gallon gas. However, if Apple will continue to stride in this upward manner, they can hold a new title.
Analysts at Stifel, Piper Jaffray and Pacific Crest Securities increased their estimate from 43.5 million to 50.2 million iPhone unit sales for the third fiscal quarter because of noted product penetration in China.
"While China macroeconomic concerns will likely be a key investor focus, analysis of Apple's positioning/momentum in China remains strong," wrote Rakers, who is currently offering Apple stocks at $150 per price target.
According to a survey from Thomson Reuters, the company is looking at a $49.3 billion sales growth.
Though good predictions arise, the Cupertino-based company is still not releasing definite results on the Apple Watch sales. According to CNBC, they might file it under the "other products" category. Analysts, on the other hand, predicted about 4 million units for the third quarter and 9 million total units for the entire year.
The Apple Watch was just released this year. The online sales were launched in April while the retail stores sold it around June. Though the product has not reached everyone yet, Andy Hargreaves, analyst at Pacific Crest, still believes that the "initial sales should be strong."
Apple's third quarter earnings are predicted to be $1.81 a share. '
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