“Goldman Sachs analyst David Bailey this morning upped his estimates on Apple (AAPL) ahead of the company’s fiscal second quarter earnings report, which is due after the close next Wednesday,” Eric Savitz blogs for Barron’s.

“Bailey is looking for FY Q2 revenues of $8 billion, at the high end of the company’s guidance range of $7.6 billion to $8 billion, which would be… up 6% year over year,” Savitz reports. “Bailey upped his EPS estimate for the quarter to $1.07 from $1, which puts him a penny below the Street consensus of $1.08. Apple’s guidance had been for 90 cents to $1.”

Savitz reports, “Bailey maintains his Neutral rating on the stock, but ups his target to $125, from $105, based on the higher gross margin and increased estimates.”

Full article here.