Edible Apple

While Palm is busy warning Wall Street about lower than expected earnings, Apple, per usual, seems to be firing on all cylinders.

Last week, analyst Toni Sacconaghi raised his FY 2010 and 2011 earnings estimates for Apple to $11.67 and $13.73 respectively. Sacconaghi wrote in a note to investors revenue from the iPhone will soon account for nearly 50% of all of Apple’s revenue on account of higher sales (duh) and the fact that Apple’s margin on the iPhone (~58%) is significantly higher that the margin generated by average aggregation of their entire product line (~40.9%).

Looking forward, Sacconaghi anticipates iPad sales of 2.2 million units in 2010 and 6.8 million in 2011. As for the iPhone, Sacconaghi anticipates 45-50 million units sold during the 2010 fiscal year, which would more than double the 20.7 million iPhones Apple sold during the 2009 fiscal year.