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UBS raises Apple Q1 2021 revenue estimates on iPhone 12, Mac strength

Added 01-25-21 04:11:02pm EST - “Investment bank UBS has raised its Apple December quarter estimates, citing better-than-expected iPhone shipments, average selling prices, and Mac sales.” - Appleinsider.com

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Posted By TheNewsCommenter: From Appleinsider.com: “UBS raises Apple Q1 2021 revenue estimates on iPhone 12, Mac strength | AppleInsider”. Below is an excerpt from the article.

Investment bank UBS has raised its Apple December quarter estimates, citing better-than-expected iPhone shipments, average selling prices, and Mac sales.

In a note to investors seen by AppleInsider, UBS analyst David Vogt raised his Q1 2021 Apple revenue estimate to $106.9 billion, up from $98.9 billion. He also bumped up his earnings-per-share (EPS) estimate to $1.45, up from $1.35.

The analyst expects December iPhone unit shipments to clock in at about 78.5 million, around 5 million shipments better than his previous forecast of 73.5 million. That number is also higher than December quarter shipments in 2016 and follows three straight years of Q1 declines.

Those shipments numbers are coupled with an higher-than-expected average selling price (ASP) because of a consumer skew toward the iPhone 12 Pro and iPhone 12 Pro Max.

Vogt forecasts Apple reporting iPhone revenue of $63.8 billion during the quarter, well above his prior prediction of $58 billion and above Wall Street consensus of about $59 billion.

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