Apple could rake in $38.2 billion for the quarter

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Apple could have a quarterly revenue of $38.2 billion, which will surpass Wall Street’s prediction of $37.9 million, claims Wells Fargo Securities analyst Maynard Um.

For the June quarter, Apple is expected to round out at 36.5 million iPhones sold, according to the iDownload blog. At this time one year ago, Apple had sold 31.2 million iPhones, noting a growth in sales and profit from the mobile device.

Apple will announce its third quarter earnings at 2 p.m. Pacific on July 22.

As Apple’s iPhone success continues, Evercore Partners announced that it predicts sales to reach 58 million by the end of the December quarter, according to Apple Insider. Analyst Rob Cihra also expects the Apple stock to reach an all-time high.

What does Apple’s success mean for competitors?

Since these predictions were made, Samsung has announced that it will be adding four future models to its Galaxy line, according to Tech Times. A recent article published in the Inquirer reported that the Galaxy S5 is the “third best-selling” smartphone on the market.

However, not all is gloomy for Samsung. It appears that some Europeans — specifically, former iPhone owners — have made the switch to the Galaxy S5 for its larger screen size.

As rumors continue about the iPhone 6, some say that Apple is attempting to get into the big-screen market as well. Recent photos that leaked on show that the iPhone supposedly has a much larger screen that it does now. It also appears to be curved at the bottom.

More information:

Apple designs and markets consumer electronics, computer software, and personal computers. The company's best-known hardware products include the Macintosh line of computers, the iPod, the iPhone and the iPad. Apple software includes t... read more »

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