Hudson Square Research analyst Daniel Ernst has raised his Apple Inc. (AAPL) earnings estimate to $9.51 from $9.35 on sales of $37.3 billion (up from $36.8 billion).

“That still puts him near the bottom among the Wall Street analysts we’ve heard from,” Philip Elmer-DeWitt reports for Fortune. “Never one of Apple’s strongest supporters, Ernst warns that rising Street estimates, particularly for the iPhone, set what he calls a high bar for the quarterly report due out Jan. 24.”

Read more in the full article here.

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