The expression \( 1.23 \times 10^1 \) represents a number in scientific notation. To evaluate it, you can multiply \( 1.23 \) by \( 10 \) raised to the power of \( 1 \):
\[ 1.23 \times 10^1 = 1.23 \times 10 = 12.3 \]
Therefore, \( 1.23 \times 10^1 \) equals \( 12.3 \).