Analyst: iPhone sales will outperform Wall Street expectations in the December quarter

In a note to clients — as noted by AppleInsider — RBC Capital Markets analyst Amit Daryanani to believe iPhone sales are set to outperform Wall Street expectations in the December quarter. He bases this on a positive earnings pre-announcement from Apple supplier Dialog Semiconductor yesterday.

Dialog pre-announced good September quarter results on the back of mobile systems revenue, suggesting strong component orders from Apple. The company raised revenue expectations for the past quarter to about $345 million, up 13%from previous estimates between $290 million to $320 million.

Daryanani has set a $125 target for Apple stock and estimates the company will take in $47.3 billion in revenue for the September quarter on 44.2 million iPhone unit sales. For the holiday quarter, the analyst sees $78.7B in revenue on about 79 million iPhone sales.