An analyst is warning that Wall Street is likely to be disappointed when Apple announced its third quarter results next Tuesday.

Morgan Stanley analyst Katy Huberty expects Apple to make $35.1 billion this quarter. When delivering his forecast for Apple’s third quarter, Apple CFO Peter Oppenheimer told analysts to expect revenue of $34 billion and earnings per share of $8.68 for the June quarter.

She suggests that the Street’s estimates are not reflecting the “seasonality” of products like the iPhone and Mac.

She expects that Apple will report that it sold 27 million iPhones last quarter, and 4.1 million Macs.

In Apple’s fiscal second quarter of 2012 it sold 35.1 million iPhones, 11.8 million iPads, and 3.8 million Macs.

Looking forward, the analyst expects conservative guidance for the next quarter with shipments of 26 million iPhones, 17 million iPads, 5.3 million Macs and 5.4 million iPods, reports Apple Insider.  

Huberty isn’t the only analyst expecting iPhone sales to have slowed in the quarter just gone. Mizuho Securities analyst Abhey Lamba claims that Apple has “already started experiencing a slowdown due to the impending iPhone 5 launch.”

During the second quarter financial results conference call, Oppenheimer noted that Apple is expecting a sequential decline in iPhone sales, as Apple had ramped up inventory to meet pent-up demand. The lower entry price for the iPad 2 and a stronger US dollar were also factors in Apple’s forecast.



Apple results will 'disappoint' due to iPhone slow down, analyst
Apple almost doubles profits in iOS-driven quarter

Analyst raises expectations for iPad sales