JP Morgan analyst Mark Moskowitz has raised his estimates for Apple's most recent quarter, most notably pushing a revenue target up from $18.13 billion to $18.71 billion. The forecast also includes sales of 4.7 million iPads -- higher than some other optimistic appraisals -- and an adjusted gross margin prediction, now set at 39.5 percent instead of 39.2. Margins could return to 40 percent as soon as the next quarter, says Moskowitz, if component prices fall as expected and help compensate for educational discounts and the free case giveaways for the iPhone 4.
