Apple will report its quarterly revenues on July 19th and analysts are already doing last-minute forecast changes.

The Cupertino-based company is expected to have sold 17.53 million iPhone units and 8.5 million iPads this quarter, while previous estimations suggested Apple could sell 15.85 million iPhones and 8.22 million iPads, according to Ticonderoga Securities analyst Brian White, Apple Insider reports.

" […] our iPhone estimates for the June quarter were overly conservative," he explained.

In the uncertain economic environment of today, Apple is “a beacon of hope” for investors, White suggests. Despite the renewed concerns about the US government debt, Apple is still a strong company which "enjoys the tailwind of strong secular industry trends, hot new products and a market share full of expansion opportunities," White added reassuring investors.

If Apple has indeed managed to sell 8.5 million iOS tablets, it would set a new record in terms of quarterly sales for the company thus breaching the 8 million milestone.

In early June, Apple informed it had sold 25 million iPads in 14 months. The company had sold 19.48 million units before the June quarter, which means 5.52 million iPads had been purchased up to early June. Thefore, it is very likely Apple has sold at least 8 million tablets this quarter.