Apple is all set to announce financial results of the first quarter of the current fiscal year tomorrow; the Cupertino Based company is expected to hit 88.45 billion U.S. dollars in revenues as per the analysts which will exceed the historical 88.29 billion U.S. dollars recorded a year ago. However, the market expectations were not met during the fiscal year of 2019 as expected, the market expected Apple to exceed $90 billion U.S. dollars but Apple was short of this target.
However, the company’s efforts to increases sales remained positive, it was reported earlier that Apple hit the new record of $386 million sales on the Apple App Store on New Year’s Day. The company has also witnessed the record high in share prices during the start of 2020. The company has also increased the prices of various apps available in App Stores in Asian countries.
The announcement will have a positive effect on the company’s performance and stock price which will further enhance the company’s revenues in the future. Apple revenues failed to meet the target earlier due to stagnant overseas growth which resulted in a slight plunge in the company’s stocks.
Apple has plans to launch at least 4 new mobile phones in 2020, the Cupertino based tech giant also plans to launch the cheaper iPhone SE2 for various emerging markets in order to support its falling revenues in emerging markets. Apple is still very much dependent on hot iPhone sales in order to gain a big jump in stock price and revenues.
Apple is now relying on the four new models in 2020 and AirPods series, it the company exceeds 100 million units on any iPhone and 60 million units on AirPods, then the company would decently achieve its targets for 2020 along with huge gains for stockholders.