Analysts at First Albany this morning raised estimates on Apple once again.

The firm predicts iPod sales may reach as high as five million units in Apple's December quarter, and expects earnings per share (EPS) of 50 cents, rather than the 47 cents per share predicted before. Apple's own guidance claims an EPS between 39-42 cents.

CBS Marketwatch yesterday revealed analyst consensus estimates on Wall Street of 48 EPS for the stock, on revenues of $3.17 billion. Anticipation is high on the Street.

The story doesn't end there - the analysts are optimistic of further upside to Apple stock, writing: "We expect consensus estimates for FY05 to take another step function upward, which should enable further appreciation."