Apple Inc. (NASDAQ:AAPL) shares have gained 1.46% in early trading session Monday as the company is set to release its fourth-quarter results after the market close. Deutsche Bank analyst Sherri Scribner said in a research note that investors already have set very high expectations. The research firm expects Apple to handily beat the FYQ4, 2015 Wall Street estimates.

Apple Inc. (AAPL) Q4 Preview: Expect Strong Results

Apple to easily beat consensus estimates

Scribner and her colleagues, Joakim Mahlberg and Larry Zhong, estimates the Cupertino company to report $41.7 billion in revenue and $1.37 per share in EPS. By comparison, the Wall Street consensus calls for $39.8 billion in sales and $1.30 in earnings per share. Deutsche Bank expects Apple Inc. (NASDAQ:AAPL) to sell 38 million iPhone units during the September quarter, which also includes about two weeks of the iPhone 6 and 6 Plus sales. Apple Inc. (NASDAQ:AAPL) sold a record 10 million iPhone 6 and 6 Plus units in the opening weekend itself.

Apple iPhone sales

What’s more, Deutsche Bank says the iPhone shipments could be even higher than its estimates, fueled by the iPhone demand. Further, the research firm says Apple is well-positioned in the wearable market with its forthcoming Apple Watch. However, strong iPhone sales and higher gross margins are already priced into the stock. So, Deutsche Bank expects Apple stock to remain range-bound in the near term. The research firm has a Hold rating on Apple with $102 price target.

Scribner expects Apple Inc. (NASDAQ:AAPL) to ship 75 million units of iPhone 6 and 6 Plus in 2014. However, investors expect new iPhone shipments of 80 million units or higher. The supply chain can support up to 80 million units this year. The iPhone 6 & 6 Plus shipments will see a significant growth in December quarter, which includes China sales. For December quarter, Deutsche Bank analysts forecast shipments of 65 million iPhones, a 72% jump from the September quarter.

iPad sales to remain a cause of concern

Last week, Apple Inc. (NASDAQ:AAPL) launched new iPad Air 2 and iPad Mini 3. Analysts say these are just evolutionary products with faster graphics, better CPUs, TouchID, Apple Pay and a slimmer form factor. The new iPads could boost sales in the crucial holiday season. But Apple is expected to struggle with sales decline. Overall tablet growth is also slowing. According to research firm IDC, tablet shipments will grow just 7% in 2014, compared to 53% growth in 2013.

Apple iPad