Last week Piper Jaffray analyst Gene Munster set out his predictions for Apple's current fourth quarter which ends on September 30th.
This week the analyst has raised his estimates, based on a report from NPD the analyst writes that he is "incrementally more confident" in Apple's unit sales.
Munster now expects Apple to sell 2.8 million Mac units, up from 2.5 million in last weeks estimates. The analyst also raised unit sales estimates for iPods and iPhone expecting 11 million iPods to be sold (previously 10.8 million) and 5 million iPhone sales (up from 4.1 million).
During the first six months of 2008 Apple sold 2.4 million iPhones, adding in Munster's estimates would raise that figure to 7.4 million iPhones well on the way to Apple's self imposed target of 10 million iPhone sales in calendar 2008.
In addition Munster added that this quarters iPhone revenue will be a "meaningful percentage", last quarter which ended in June the iPhone accounted fro 4% of booked revenue, this quarter Munster estimates that booked revenue will account for 21%.
With this in mind Munster is also adjusting his metric increasing his estimate of Apple’s fourth quarter earnings 13%, from his previous estimate of $1.04 a share to $1.17 a share (the Street estimate is $1.11 a share). Under his new metric booked EPS would be $1.60.
Munster's price target for calendar 2009 remains at $250 per share.