Apple Earnings Preview

Tech juggernaut Apple AAPL, the maker of the now ubiquitous iPhone and iPad, reports fiscal first-quarter results after the close today and analysts are expecting another blowout quarter from the company that has made a habit of shattering Wall Street estimates. Analysts are expecting a profit of $10.19 a share on revenue of $39.2 billion, but some investors are betting the numbers will come in higher than that according to Estimize.com. This will be the first quarter reported by Apple that includes sales figures for the wildly popular iPhone 4S, which went on sale in mid-October. Analysts have said the phone sold 30 million units since it hit the market. Overall, analysts are once again forecasting stellar iPhone sales. Of the nearly 40 analysts he polls every quarter, the lowest estimate for iPhone sales was 25.2 million, according to the Washington Post. Analysts are also forecasting iPad shipments of 13 million to 14 million and just north of 5 million Mac shipments for the quarter. The fiscal first quarter was also be the first quarter in which the iPad butted heads with Amazon's AMZN Kindle Fire during a holiday shopping season. If iPad sales come in at 13.5 million, that would be a major increase from the 7.33 million sold during the year-earlier first quarter. Apple shares are up almost 8% in the past month, but are trading lower today. As the second-largest U.S. company by market value, Apple's results will have an impact on both the S&P 500 and the Nasdaq. While the stock is trading near all-time highs, it also trades for less than 11 times forward earnings and well below the average analyst price target of over $512. What to watch for: iPhone and iPad sales figures. If Apple beats on both fronts and delivers appealing guidance for the popular gadgets for 2012, that will be just the confirmation the bulls are looking for to bid this stock high. If Apple disappoints, the stock could see a slide similar to Google's GOOG post-earnings tumble.