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Apple Q2 revenue set to rise to $24.42 billion

Investment Bank J.P. Morgan has raised their projections of Apple's earnings through 2012 in expectation of continued growth from both the iPad and the iPhone.

Mark Moskowitz, an analyst with the company issued a note to investors early today with revised estimates, increasing his revenue estimate for the March quarter from $23.83 billion to $24.42 billion.

The first quarter fiscal of 2011, Apple reported a record $26.74 billion in revenue. In the year ago quarter Apple beat Wall Street expectations with a $13.5 billion in revenue.

Moskowitz said that Apple's growth trends will be ‘too big to ignore'. He also added that Apple's iPhone shipments were stronger than expected. J.P. Morgan see Apple as having sold 18.4 million iPhones in the second quarter fiscal 2011.

Moskowitz also suggested that the CDMA iPhone could potentially be a $9 billion opportunity for Apple in 2012, as sales figures soar in poorer nations who struggle to afford the current model.

All the news is not good however as sales are likely to decline in the near to mid term due to the Japan earthquake and tsunami. Additionally this could be exacerbated by the growing sales of the iPad, which has much lower profit margins that Apple's other lines.

KitGuru says: Apple are due to release their quarterly earnings for the second fiscal quarter on a call next Wednesday, April 20th.

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