American Technology Research analyst Shaw Wu believes Apple's Mac and iPhone sales are moving ahead of the company's own internal targets.
The analyst believes Apple's Mac business (which accounts for 47 per cent of revenue) continues to see strength driven by back-to-school and share gains from switchers.
Robust demand, particularly high-end MacBook Pros and new aluminum iMacs, is causing "longer than normal lead times," the analyst explains in a note to clients distributed last night.
Wu also observes that sales of the high-end iMac are also doing well, and predicts 1.95 million Macs will be sold in the current quarter, an estimate he calls "conservative".
"iPhone sales are strong and appear ahead of plan. We remain comfortable with our forecast of 770,000 units, above Apple's goal/plan/guidance of 730,000," Wu said.
The analyst also notes that Apple's reported iPhone distribution deal with O2, T-Mobile and Orange has been made on "vert favourable" terms, similar to Apple's deal with AT&T.
"We continue to recommend buying Apple shares on pull-backs and see upside to $185 in 6-12 months," the analyst said.