Did Apple just have a $20 billion quarter?

“Wall Street was more than a little skeptical in July when Apple (AAPL) CFO Peter Oppenheimer offered his revenue guidance for the quarter that ended two weeks ago: $18 billion — a 47% increase from Sept. 2009,” Philip Elmer-DeWitt reports for Fortune.

Advertisement: The new AppleTV. The simplest way to watch your favorite HD movies and TV shows on your HD TV. Just $99. Buy Now.

“A week after Oppenheimer’s report, the Street’s Q4 revenue consensus, according to Thomson Financial, was $18.29 billion — a measly 1.6% beat,” P.E.D. reports. “Three months and a few million iPhones and iPads later, most Apple watchers have changed their tune.”

P.E.D. reports, “Of the nine blogger-analysts we polled, all but two expect Apple to report earnings of $20 billion or more.”

Read more in the full article here.