Amateur analyst Andy Zaky who has been notoriously accurate in his earnings estimates for Apple is predicting “the mother of all earnings blowouts” when Apple announces it’s Christmas quarter results in January 2009.

In a report published earlier this week Zaky estimates that Apple will announce fiscal Q1 2009 results of $1.96 per share on sales of $11.29 billion, significantly above the current street estimates of $1.44 EPS on $10.08 billion.

Zaky writes that this would represent “the largest revenue beat by any company I’ve ever seen”.

When it comes to sales Zaky appears to be ignoring concerns of slowing consumer spending predicting growth in all of Apple’s product lines:

  • iPods: 22 million units (up from 11.05 million in Q4)
  • Macs: 2.8 million (up from 2.61 million)
  • iPhones: 8 million (up from 6.89 million)