Apple will reveal its second quarter financial results this Wednesday, with a pair of analysts firms raising their estimates on the company's performance with the expectation of strong Mac sales.

Goldman Sachs analyst David Bailey last week raised his target price on Apple from $175 to $185 saying that: "Strong Mac sales and a better product mix should offset sluggish iPhone and iPod sales and allow the company to report March quarter results 'strong enough to satisfy the Street."

The analyst predicts Q2 unit sales of 2.1 million Macs and 1.4 million iPhones. With heightened expectation of new iPhone models set to ship this June, the analyst also expects Apple will sell 11 million iPhones in FY 2008.

David Bailey remains optimistic and sees calendar 2008 sales of 11 million iPhones, ahead of the company’s much-publicised 10 million unit estimate."

Caris & Co. analyst Shebly Seyrafi also believes strong Mac sales and improved profit margins should drive Apple to exceed its previous guidance for the quarter, offering an Above Average rating and $170 price target on the stock.

The analyst expects Apple's Q2 revenue to reach $7.04 billion, up from $6.93 billion in the year ago quarter. Seyrafi predicts shipments of 9 million iPods, 2.14 million Macs and 2 million iPhones for the quarter.

Apple stock currently stands at $161.33 per share, up twenty-nine cents on pre-market trading.