Steve Jobs is laughing all the way to the bank as revenues are forecast to rise 50 percent thanks to the launch of the iPad and iPhone 4.This massive jump is on the back of the Apple success story in 2010 that was the launch of their first ever iPad in March, which sold over 12 million units, helping to create a totally new tablet market.
The much anticipated iPhone 4 released in July, which saw stocks sells out in a matter of days and a lengthy customer waiting list in Australia, sold 73.5 million worldwide.
This was on top of the release of the MacBook Air laptop and the Apple TV IPTV box, which saw the tech giant’s venture into the television market for the first time.
“I don’t think there was any weakness at all in the quarter,” said one analyst.
The company is now set to report earnings next week of an estimated US$24.4 billion, according to Walls Street analysts, equating to US$5.37 a share and an “article of faith among investors,” according to Business Spectator.
However, the question now is can they top this performance in 2011?
One of Apple’s main obstacles in the way of repeating these phenomenal results in the next financial year is its main rival, Google and the ascension of its Android device, which is already proving popular among smartphone users.
However, other players like Samsung are also hoping to muscle into the smartphone market projecting a doubling of smartphones sales this year to 40 million.
Issues with supply could also be a looming problem for Steve Jobs’s brainchild this year, say analysts.
“If expectations get too far ahead, there’s no way the company can live up” says Brian Marshal from US analysts Gleacher & Co.
Apple will also be hoping the iPad 2, tipped for release in the next 3-4 weeks, will repeat the success of its earlier model.
The second tablet instalment is said to offer more power with dual core ARM processor, and features including SD card slot, a larger screen and a front and rear camera, which should help recreate some of the consumer fever induced by the release of iPad first generation in March.
Tech consumer appetites will also be whetted with Apple’s other batch of goodies earmarked for 2011 including the iPhone 5, TV App Store, and possibly a larger screen MacBook Air laptop.
The Wall Street star child, which will release its financial result on Tuesday, is currently valued at US$300 billion.