Wedbush on Apple (NASDAQ:AAPL) Before Earnings Report

As with most analysts covering Apple (NASDAQ:AAPL), Wedbush gave their input into what they think shareholders are going to hear when they report earnings on Tuesday

Wedbush said, "We expect FQ1 results above expectations. We believe the recent launch of the iPhone 4 at Verizon (NYSE:VZ) will boost the company’s FY11 outlook."

Wedbush sees earnings of $5.37 for Apple on revenue of $24 billion.

Wedbush projects sales by Apple of 15.1 million iPhones, 6.3 million iPads, 4 million Macs, and 18.6 million iPods for the first quarter. They added that it wouldn't be surprising for Apple to beat those estimates.

Of the 49 analysts covering Apple, 44 have a Buy rating on Apple and 5 a Neutral rating.

Wedbush maintains a "Outperform" rating on Apple, which closed Friday at $348.48, gaining $2.80, or 0.81 percent. Wedbush boosted their price target on Apple of $405.