Apple shares rise seven percent in two days as anticipation rises over possible $100-billion quarter

    1 of 1 2 of 1

      Investment analysts have their eyes on January 27.

      That's because Apple is releasing its next financial report on that date. And some are wondering if it will be the California tech giant's first US$100-billion quarter.

      Over the past two days, Apple shares have climbed more than seven percent, closing today at US$136.87.

      That lifted its market cap to US$2.3 trillion, retaining its position as the world's most valuable publicly traded company.

      Meanwhile, Morgan Stanley has predicted that its quarterly revenues will reach UD$108.2 billion, which is five percent above the analysts' consensus.

      The U.S. investment house has also increased its 12-month target price for Apple shares to US$152.

      Apple is benefiting from the trend of people working for home as its stimulating sales of more of its products and services.

      In each of the last two calendar years, Apple's returns to shareholders increased by more than 80 percent. In both years, that topped the list of the 30 large-cap companies in the Dow Jones Industrial Average.

      In 2020, Apple generated an 82.3 percent windfall, including dividends. The previous year, Apple returned 86 percent to shareholders.

      Reuters recently reported that Apple is working on an iCar, which could be released as soon as 2024.

      Were that to happen, it could pose a serious challenge to the electric-vehicle manufacturer Tesla.

      Today, Tesla shares were down by 0.64 percent, closing at US$844.99.