Apple Q4 2008 earnings to be announced today (updated)

Apple plans to conduct a conference call to discuss financial results of its fourth fiscal quarter today (Tuesday, October 21, 2008) after the markets close at 5:00 p.m. ET/2:00 p.m. PT.

You can listen to the audio webcast of the conference call live on Apple's investor relations Web site.

Crystal ball time:

• MarketWatch notes that analysts surveyed by FactSet Research estimate Apple will earn $1.10 a share on $8.02 billion in revenue for the quarter, compared to earnings of $904 million, or $1.01 a share, on $6.22 billion in sales in the same period a year ago.
• Piper Jaffray's Gene Munster expects the company to post Mac sales of about 2.8 million units and iPod sales of about 11 million units.
• Many analysts believe that Apple will exceed its own forecasts for iPhone sales of 10 million units this year (IMEI numbers indicate that Apple has already manufactured more than 10 million iPhones).
• J.P. Morgan's Mark Moskowitz said the iPhone could eventually account for 10% of Apple's total revenue.
• Analysts currently estimate Apple will earn $1.65 a share on $10.6 billion in sales for the quarter.
• CNET New's Tom Krazit believes that Wall Street will care more about Apple's outlook on the future than on the past, so its guidance for Q1 2009 will be key.

In the September quarter (Apple's Q3'08) the company projected revenue of US$7.8 billion and earnings of US$1.00 per share.