With the release of it’s iPhone and iPad devices, Apple has undoubtedly become the most valuable company in the whole world! It has overtaken even ExxonMobil as being the most highly-valued company around the globe. And there seems no end in sight to this steep rise in Apple’s fortunes. Last year, Apple revealed huge profit figures, the sales having particularly bolstered during the last quarter due to iPhone 4S sales. And interestingly, there is no decline in the demand for iPhone 4S. According to an Oppenheimer analyst, Apple is now all set for selling 31 million iPhone device and 11 million iPad devices in the second fiscal quarter.
Apple has already shipped out bulk loads of iPhone and iPad devices during the first fiscal quarter. It was able to sell 37 million iPhone and 15.4 million iPad devices during the first quarter. But the sales are anything but weak and the popular demand for Apple’s iOS devices is persistently strong, even increasing occasionally.
Ittai Kidron, from Oppenheimer, has put the expected sales of Apple’s second fiscal quarter at a very high number. But these expectations are, by no means, misplaced. The demand for iPhone 4S particularly is on the rise. And now Apple is expanding to a number of new markets. China, specifically, is said to hold great promise for Apple’s sales given the huge size of the market. According to Kidron, “The iPhone 4S is consistently the most sought after phone at all three carriers in the U.S. based on our store checks.” In context of all this, it is definitely right of Kidron to say that shares of Apple stocks will be go up to $570.
Image courtesy renatomitra.