Apple poised for possible 60% revenue jump in Q2, propelled by iPad, iPhone sales

Analysts expect Apple (Nasdaq: AAPL) to report another stellar quarter this afternoon, which propelled the company's shares by 2.5 percent on Monday to close at a record high of $373.80.

Investors are expecting a 60 percent increase in revenue for the June quarter, but they really want to know about guidance for the second half of 2011, which Wall Street hopes will be stellar with the launch of a new iPhone, the iPhone 5.

"We are more positive on the outlook for share acceleration in the second half as it is reasonable to expect multiple hardware refreshes combined with the back-to-school and holiday shopping quarter," said BGC analyst Collin Gillis, who raised his price target on the stock to $430 from $390.

Analysts believe Apple likely sold between 17 million and 18 million iPhones during the quarter and about 8 million iPads. According to Thomson Reuters I/B/E/S, Apple should report earnings of $5.84 a share on revenue of $24.9 billion.

For more:
- see this Reuters article

Related articles:
Time Warner simulcasts CNN, HLN news channels on Web
Cable operators: Best and worst iPad apps
Surveys stir new pay TV cord-cutting fears
Apple TV experiences Netflix glitch
Microsoft, Apple ready to take another run at cable