Analyst: Apple FY2011 Revenue Could Top $100B

| Apple Stock Watch

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.]

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$100 billion? Apple is poised to move past $110 billion in revenue this fiscal year. Apple has now surpassed Microsoft in quarterly revenue, may surpass IBM in revenue in calendar year 2011 and rival HP for the revenue top spot in calendar year 2012.

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