In a research note released this morning, analysts at JP Morgan have reiterated their “overweight” rating on Apple Computer Inc. and raised estimates for the company.

Apple Computer is scheduled to report its F1Q results on April 13.

JP Morgan analysts expect Apple Computer to post revenues and earnings ahead of the consensus estimate. JP Morgan believes Apple will continue to witness higher-than-expected operating leverage and robust revenue growth in the near future.

The analysts expect Apple Computer’s share price to appreciate in the near term due to accelerating operating leverage and market share gains across all segments. JP Morgan analysts’ EPS estimates for 2005 have been raised from $1.15 to $1.18 and, for 2006, from $1.24 to $1.33.