Tomorrow Apple will announce its second quarter of fiscal 2008 earnings during a conference call. The webcast conference call will begin at 2:00pm PDT/5:00pm EDT/10.00pm BST on Wednesday April 22nd.

Apple is expected to outperform the Street’s expectations and is also expected to severely outperform its guidance that it offered during the Q108 conference call in January.

Apple shocked the Street somewhat by offering very conservative figures for Q208 predicting 94 cents per share, nearly 15% below the Street’s average estimate of $1.09.

The average street consensus is that Apple is set to announce results of $1.07 per share on $6.95 billion in sales. Mac sales of 2.1 million, 10 million iPods and 1.5 million iPhones.

Analysts are positive that Apple will report a reasonable Q208 and have the following targets:

  • AmTech - $175 (Neutral)
  • Piper Jaffray - $250 (Buy)
  • Needham - $235 (Strong Buy)
  • Lehman Bros. - $195 (Overweight)
  • CitiGroup - $212 (Buy)
  • RBC Capital - $190 (Outperform)
  • Merrill Lynch - $180 (Buy)
  • Morgan Stanley - $185 (Overweight)
  • Goldman Sachs - $185 (Buy)
  • Caris & Co. - $170 (Above Average)