iPhone, iPad Should Post "Substantial Upside," J.P. Morgan Reports

For the Dec. quarter, J.P. Morgan said that it expects iPhone and iPad to post substantial upside. “For December, our unit estimates for iPhone, iPad, and Mac are 15.1 million, 6.7 million, and 4.3 million, respectively,” J.P. Morgan writes. “Our recent research indicates, however, that the actual iPhone numbers could track closer to 16.0 to 16.1 million units and iPad shipments could be 6.9 to 7.0 million units. “We do not expect much of a delta to our current Mac unit estimate. We believe that the potential iPhone and iPad outperformance could add ‘at least' $0.25 of EPS upside potential.” Apple AAPL closed Friday at $348.48.