Analyst: Apple FY2011 Revenue Could Top $100B

Apple is on track to top US$100 billion in revenue for its 2011 fiscal year, according to Needham analyst Charlie Wolf. He raised is revenue projections for the Mac, iPhone and iPod maker on Wednesday from $98.9 billion for the year up to $103.9 billion thanks in part to the iPad’s popularity.

Steven Fox from CLSA Asia-Pacific Markets backed up Mr. Wolf by saying “We think competition is scrambling and our iPad share assumptions are likely too conservative.” He went on to note a recent survey showed “robust iPad uptake and purchase intentions.”

Mr. Wolf expects Apple’s upward revenue climb won’t end this year, either. He raised his fiscal 2012 estimates from $118 billion up to $125 based on 40 million iPads sold. For 2011, he expects Apple will sell some 30 million iPads.

Mr. Wolf also raised his fiscal 2011 EPS from $22.25 for Apple up to $23.25.

Apple is currently trading at $348.56, down 2.40 (-0.68%).

[Thanks to Forbes for the heads up.]