Apple Inc (AAPL): Q4 2009 Estimates

Apple (nasd:AAPL) reports its Q4 2009 results on Monday, October 19th. I am expecting revenue to increase 19% (Y/Y) to $9.374B and EPS to increase 25% to $1.57.  I expect gross margin to rise sequentially to 36.7% from 36.3% reported in Q3.

Revenue growth will be driven by strength in the iPhone, iTunes, and software segments. Mac units sales will be up (Y/Y), but Mac ASPs will be down resulting in slightly lower Mac revenue (Y/Y). iPod revenue will be down 10% due to lower unit volume and ASPs.

Earnings growth will be driven by the higher sales mix of high-margin products such as iPhones and software.

Disclosure: Long AAPL