A group of researches believe that Apple Inc. can keep posting sales growth of more than 50% in the next two years as a mobile applications boom fuels demand for devices such as the iPad.
According to researchers, Apple sold almost 15 million iPads in its debut year and more than 90 million iPhones in its four-year lifespan. Demand for the devices has spawned a market for downloadable apps that let users shop, work, play games and handle other tasks on the go. That in turn keeps customers buying Apple’s products, and puts the company on course for higher revenue than International Business Machines Corp. and Hewlett-Packard Co.
It is also expected that the company will be bigger than IBM next year, and they’ll be bigger than HP the year after that. At current growth rates, they’re going to be a $200 billion revenue company.
Hewlett-Packard had sales of $126 billion in the year that ended in October and IBM’s revenue was $99.9 billion last year, making them the largest technology companies, respectively, by sales. Apple ranks No. 1 by market capitalization.