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Fortune provides upbeat Apple earnings, revenue estimates for Q3 2014

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Over the past few days, Philip Elmer-DeWitt at Fortune has been posting his compilations of what Wall Street analysts expect Apple to announce today. This morning, he put the icing on the financial cake with revenue and earnings estimates from amateur and professional analysts alike, and those estimates (seen above) look wonderful.

Apple's guidance from last quarter expected revenue in the range of $36 to $38 billion, with gross margins in the 37 to 38 percent range. The average of all estimates from analysts shows earnings topping Apple's guidance at about $38.31 billion, with gross margins at the top of Apple's range -- 38 percent. The analysts also expect earnings per share to be around $1.26.

Those estimates are from 34 Apple analysts, and they represent a leap in revenues of 8.5 percent year over year, with earnings up 18 percent for the year ago quarter. Be sure to join our liveblog of the Apple earnings call later at 5 PM ET this afternoon.

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