Apple announce hits £110bn, a record-breaking

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Apple announced record-breaking $180bn ( £110bn) revenues from sales from beginning year to September, propelled by increasing demand of the latest smartphone, IPhone 6 and IPhone 6 plus.

Apple CEO, Tim cook said new generation IPhone, which launched on September event, had “set a new high-water mark” for phone users to upgrade their handsets.

The Californian company posts full year report on Monday, and Wall street  is forecasting the sales of IPhones in last 3 months until September, a 12% rise on the 34m mobiles sold by Apples I the same period last year.

The forecast indicates the reach of revenue nearly $40bn, bringing Apple’s turnover for this year to $181bn, compared to $171bn last year and up from $65bn in 2010.

According to Bloomberg’s average of analysts forecasts, revenues are expected to reach $64bn in the December quarter.

On less positive note, IPad demand is waning, with forecast of 13m, down from 14m the year before, probably yielding the third consecutive quarter decline in sales. Buyers are more reluctant to  upgrade their tablets as often as their smartphones, and are happy to give other manufactures such Microsoft or Samsung a try.

The IPad air 2, the first tablet with Touch ID, goes o sale this week, with broker RBC Capital Markets predicting 24m IPad unit sales I late December, slightly higher than the same time last year.

“Demand remains solid across the board and the stock will work higher on record level IPhone sales'” said Amid Daryanani, a RBC analysts. He targets a $114 o share price, which currently still $98.

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